Conrad Industries, Inc. (Pink Sheets: CNRD) announced its third quarter and nine months 2009 results. For the quarter ended September 30, 2009, Conrad had net income of $2.8m and earnings per diluted share of $0.43 compared to net income of $4.5m and earnings per diluted share of $0.64 during the third quarter of 2008. The company had net income of $10.1m and earnings per diluted share of $1.56 for the nine months ended September 30, 2009 compared to net income of $15.9m and earnings per diluted share of $2.22 for the nine months ended September 30, 2008. The diluted shares for the nine months ended September 30, 2009 and September 30, 2008 are 6.5 million and 7.2 million, respectively. The company's financial reports are available at www.pinksheets.com. Conrad's backlog was $56.1m at September 30, 2009, $40.4m at June 30, 2009, $56.3m at December 31, 2008 and $74.8m at September 30, 2008. (www.conradindustries.com)
If there is a slowing in the marine industries no one told the people at ASL Marine in Singapore. Among other projects the shipyard is building a series of Roto Tugs, a series of large PSVs and a 196.8-ft dive support vessel. In November ASL was nearing completion of another in their series of diesel-electric emergency vessels for the Danish firm Esvagt. These red boats are equipped with five Cummins KTA19D powered 485 kW generators.
Conrad Industries, Inc. announced its first quarter 2009 results and the signing of contracts and sale of barges with a total value of $24m which brings our current backlog to approximately $44.4m compared to $34.1m at March 31, 2009, $56.3m at December 31, 2008 and $96.4m at March 31, 2008. For the quarter ended March 31, 2009, Conrad achieved net income of $5.7m and earnings per diluted share of $0.88 compared to net income of $4.5m and earnings per diluted share of $0
Safe Bulkers, Inc. (NYSE: SB), an international provider of marine drybulk transportation services, announced its unaudited financial results for the three and six months periods ended June 30, 2009. Summary of Second Quarter 2009 Results: Net revenue for the second quarter of 2009 decreased by 14% to $44.3m from $51.4m during the same period in 2008. The company operated 13 vessels on average during the second quarter of 2009, earning a Time Charter Equivalent (TCE)(1) rate of $37,555
Safe Bulkers, Inc. (NYSE: SB), an international provider of marine drybulk transportation services, announced its unaudited financial results for the three- and nine-month periods ended September 30, 2009. Summary of Third Quarter 2009 Results Net revenue for the third quarter of 2009 decreased by 31% to $36.9 million from $53.4 million during the same period in 2008. The company operated 13.2 vessels on average during the third quarter of 2009
Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced its results for the fourth quarter of 2009 and year ended December 31, 2009. Fourth Quarter 2009 Highlights: - Net loss of $16.3 million or $0.53 loss per share basic and diluted on total net revenues of $16.5 million. The results include a $9.0 million loss from the sale of two vessels
The executive committee of Euronav NV (Euronext Brussels: EURN) reported its financial results for the three months ended 31st March 2009. The most important key figures are (in thousands of USD): first quarter 2009 first quarter 2008 Turnover 128,505 218,004 EBITDA 73,208 154,156
• 2009 first quarter earnings per share were $.52 compared with $.68 earned in the 2008 first quarter • Results included a $.05 per share charge for early retirements and staff reductions • 2009 second quarter earnings per share guidance is $.52 to $.62 versus $.74 earned in the 2008 second quarter • 2009 year earnings per share guidance revised to $2.40 to $2.55 versus $2
Royal Caribbean Cruises Ltd. (NYSE:RCL) announced earnings for the third quarter of 2009 and provided guidance for the fourth quarter and full year. Key Highlights • Third quarter 2009 net income was $230.4 million, or $1.07 per share, compared to net income of $411.9 million, or $1.92 per share in 2008. • The results were better than the company's most recent guidance of $0.95 to $1
Class society ABS achieved another record performance in fleet size during 2010, reported Chairman Robert D. Somerville at the annual meeting. An eight percent increase in gross tonnage from year-end 2009 resulted in the ABS-fleet reaching a new record of 173m gross tons (gt) representing 11,191 vessels. Somerville pointed out that ABS is in a strong position with regards to the world orderbook holding more than 20 percent of the newbuild market
Global shipping consultancy Drewry Maritime Research said the breakbulk shipping market is expected to remain weak until 2017, citing low freight rates and high competition. Although demand growth is expected to recover next year after a very poor 2015
Freight volumes in the United States have fallen year on year for the first time since 2012 and before that the recession of 2009, according to the Bureau of Transportation Statistics. The total volume of freight moved by road, rail, pipeline
The dust has now settled on the brief rally and subsequent dramatic downturn of the containership charter market in 2015, says Clarksons Research. After a good few years in the doldrums, last year saw some fairly animated movements in boxship charter rates
The owner of a harbor tanker has been fined £3,000 with more than £7,000 costs after pleading guilty to a charge of operating a vessel for being dangerously unsafe. Joseph O’Connor was fined at the hearing in Southampton Magistrates Court February 12 following his guilty
Marine and fire safety equipment and servicing provider VIKING Life-Saving Equipment A/S announced the acquisition of Nadiro A/S, a company owned by maritime and energy conglomerate Maersk Group and SH Group. Established in 2009, Svendborg
U.S. crude oil prices on Friday dove below $40 a barrel for the first time since the 2009 financial crisis, notching their longest weekly losing streak in 29 years after a further rise in U.S. drilling and a drop in Chinese manufacturing.
Oil rose more than 3 percent on Tuesday as oversold conditions brought some buyers back to the market, but a lingering supply glut and worries about the slowing economy in top commodities consumer China kept crude prices near 6-1/2-year lows.
The container carriers have managed to reduce their combined CO2 emissions by around one third since 2009, according to a new report. Average CO2 emissions per container per kilometer for global ocean transportation routes have declined by 8
Oil rocketed as much as 10 percent higher on Thursday, posting its biggest one-day rally since 2009 as recovering equity markets and news of diminished crude supplies set off a short-covering surge by bearish traders. Snapping back from a deep two-month slump that reached 6-1/2 year lows
Danish shipping company D/S Norden plans to cut the number of vessel types it operates to help it through a long-depressed shipping market that could be about to get worse due to a slowdown in China, the company's chief executive told Reuters.
Plans to terminate commercial tours to the North Pole on the nuclear-powered icebreakers of the Atomflot company in 2016 have surged the demand for these tours. Sergey Shirokiy, the chief of the tourist department of the Russian Arctic national park summed up the results of the tourist
Slowing global trade and a bloated orderbook of large vessel capacity mean that container shipping is set for another three years of overcapacity and financial pain, according to the latest Container Forecaster report published by global shipping consultancy Drewry.
"The container shipping industry is in the midst of an over-capacity crisis which will worsen next year," Neil Dekker, director of container shipping research at Drewry said in a note accompanying the release of its 2015 edition of the Container Market Annual Review and Forecast
Carriers are intensifying their capacity-withdrawal activity, with November seeing a big rise in the number of idle containerships, says Drewry Maritime Research. The size of the idle fleet swelled by 52% from October to November to reach 900,000 teu
Although demand growth is expected to recover next year after a very poor 2015, and supply growth is likely to be minimal, competition from other sectors will maintain pressure on the breakbulk shipping market, according to the latest edition of the Multipurpose Shipping Market Review and