Highlights: - EBITDA of NOK 424 million in Q1 2011 compared with NOK 88 million in Q1 2010. - Profit before tax of NOK 334 million for Q1 2011 (Q1 2010: NOK -151 million). - Orderbook situation: • Order intake of NOK 1 708 million in Q1 2010 (Q1 2010: NOK 2 808 million). • 7 vessels successfully delivered in first quarter 2011. • Order backlog of 57 vessels end of first quarter 2011 totalling NOK 27 994 million (Q1 2010: NOK 22 321 million) - Singapore listed STX OSV Holdings Limited ("STX OSV"), had continued strong performance in Q1 2011 with an EBITDA result of NOK 439 million. - Positive development of the shares of STX OSV, with a share price increase of 4.4% during the first quarter - to a closing price at 31 March 2011 of S$1.19. STX Europe holds a 69.02% equity stake in STX OSV which has a market capitalization of approx. NOK 6.1 billion as of 11 May 2011. - Cruise & Ferries had much improved results compared to previous periods, but still making losses. The market and order book situation in Cruise & Ferries is still challenging, especially in STX Finland. - Consolidated interest bearing liabilities (ex. construction loans) reduced by NOK 305 million (-16.7%) to NOK 1 824 million in first quarter 2011.
Dockwise Ltd. announced 12 new awards totaling $55m, of which six, to the value of more than $15m, are for execution in Q4 2011. The remaining contracts are for execution in 2012 and 2013. Furthermore the company has entered into a Master Service Agreement (MSA) with Keppel of Singapore for transportation of their jack-up and semi-submersible drilling units. The $55m awards comprise contracts for transportation of four jack-up drilling rigs, one semi-submersible drilling rig
Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) announced today its first quarter 2011 results and backlog, and discussed challenges presented by the rising waters of the Mississippi River and the Atchafalaya River. For the quarter ended March 31, 2011, Conrad achieved net income of $3.7 million and earnings per diluted share of $0.58 compared to net income of $1.7 million and earnings per diluted share of $0.27 during the first quarter of 2010
STEALTHGAS INC. (Nasdaq:GASS), a ship-owning company serving primarily the liquified petroleum gas (LPG) sector of the international shipping industry, announced today the delivery of Gas Cerberus, new charter arrangements for three vessels, the sale of four vessels and first quarter 2011 financial results release date, conference call and webcast. Update on Newbuilding Program: On April 20, 2011, the Company took delivery of the 5,000cbm LPG carrier, Gas Cerberus
OceanFreight Inc. (NASDAQ: OCNF) announced for the three-month period ended June 30, 2011 the company reported a Net Loss of $1 million or $0.16 basic and diluted loss per share. Included in these results is a loss of $2.0 million associated with the sale of M/T Olinda. Excluding this item, Net Income for the second quarter of 2011 would amount to $1 million or $0.16 cents basic and diluted earnings per share. On July 20, 2011
DryShips Inc. (NASDAQ: DRYS) announced its unaudited financial and operating results for the second quarter and six month period ended June 30, 2011. For the second quarter of 2011, the company reported a net loss of $114.1m, or $0.33 basic and diluted loss per share. Included in the second quarter 2011 results are infrequently occurring and non-cash items, totaling $131.5 million, or $0.37 per share which are described below
Wilh. Wilhelmsen Holding ASA (WWH) delivered a substantial increase in operating profit year over year backed by a rebound in its shipping activities. WWH posted an operating profit of USD 57.7 million for the first quarter of 2011, up 31% from USD 44.0 million in the similar quarter of 2010 (corresponding period of 2010 hereafter in brackets). Total income amounted to USD 753.2 which is up almost 18% from 2010 (USD 639.7 million).
With Rising Gas Prices Fueling SPR Speculation, American Vessel Operators Urge Feds to Work With Industry To Prepare For Future Drawdowns. Foreign Ships Given Preference During Last Summer’s Drawdown. In a letter to the Departments of Homeland Security (DHS), Energy (DOE) and Transportation (DOT), the American Maritime Partnership (AMP), a broad-based coalition representing U.S.-flag vessel operators and allied interests
AMP to Testify on Administration’s Failure to Comply With Federal Law During 2011 SPR Draw Down; Will Stress How to Avoid a Repeat During Future Draw Downs. Thomas Allegretti will testify on behalf of the American Maritime Partnership regarding the Administration’s failure to comply with federal law during the summer 2011 draw down of the Strategic Petroleum Oil Reserve (SPR) before House Subcommittee on Coast Guard and Maritime Transportation
New ships and new navigational technology play a part as Seaways report 2012 tonnage exceeds forecasts A number of newly built state-of-the art vessels came into service within the Seaway in 2012, boasting sharp increases in fuel efficiency and reductions in emission levels. “These new vessels, part of a billion dollar fleet renewal effort by domestic and ocean carriers, combined with our marketing efforts which have recorded 10
IEA report sees energy efficiency finance becoming established market segment in its own right ... $310B & Growing Rapidly The global energy efficiency market is worth at least $310 billion a year and growing, according to a new report from the International Energy Agency that
A Chinese fisherman was killed on Friday in a South Korean coastguard operation to apprehend his vessel which was operating illegally off South Korea's west coast, the South Korean coastguard said, drawing an angry response from China. Coastguard officers fired eight bullets when they raided
Port industry veteran Don Allee will assume control of the Port’s Cruise and Tourism Division in January, following the retirement of current Director J. Robert Jumonville. Jumonville, who will retire in January after 25 years at the Port
Ecoships introduced a customized version of the Six Sigma DMAIC approach to process and performance evaluation in order to optimize the energy-efficiency of the vessels under its management. The technique has already resulted in Ecoships’ managed ships benefiting from up to 15% greater
Following a three-year record of improved results from Port State Control (PSC) inspections, the London-headquartered St Kitts & Nevis International Ship Registry (SKANReg) has moved up to Grey List ranking on the Paris MoU performance lists covering Europe and the North Atlantic
Despite what it describes as 'challenging market conditions' Royal Boskalis Westminster N.V. posted record profits in the first half year ended 30, June 2014. Highlights first half 2014 - Revenue exceeds EUR 1.5 billion - EBITDA: EUR 466 million
Danish wind turbine maker Vestas Wind Systems posted much higher than expected second-quarter earnings and slightly increased its guidance for the full year, signaling its turnaround from the brink of collapse has taken hold. * Q2 earnings before special items 104 mln eur vs f'cast 63 mln
Huntington Ingalls Industries informs that the Virginia-class submarine 'Minnesota' (SSN 783) being built at HII's Newport News Shipbuilding (NNS) division has successfully completed its first round of sea tests and evaluations. All systems
Northern Sea Route (NSR) eastern passage opens two weeks earlier than last year; Global Ice Center predicts NSR to remain open for six weeks The Global Ice Center at Weathernews Inc. announced that the Northern Sea Route (NSR) bordering Russia is open to commercial shipping traffic as of August
Like many of her neighbours, Satomi Inokoshi worries that her gritty hometown is being spoiled by the newcomers and the money that have rolled into Iwaki since the Fukushima nuclear disaster almost three and a half years ago.
Caterpillar Oil & Gas announce the successful delivery of the 100th offshore generator set featuring Brazilian local content from the company’s Piracicaba, Brazil manufacturing facility. The 100th unit, a Cat 3512 Diesel Electric Propulsion (DEP) Generator Set was packaged
Levels of pesticides continue to be a concern for aquatic life in many of the Nation’s rivers and streams in agricultural and urban areas, according to a new USGS study spanning two decades (1992-2011). Pesticide levels seldom exceeded human health benchmarks.
After the referendum debate on Scottish independence Guy Platten, Chief Executive Officer of the UK Chamber of Shipping has called for the divisions created by the campaign to be healed. Mr Platten, who left Scotland and his role as Chief Executive of Caledonian Maritime Assets last year
A global market report published by Transparency Market Research, entitled Marine Lubricants Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018, provides inputs about the global state of the current market of marine lubricants industry along with a forecast
Orkot Marine Bearings, developed and manufactured by Trelleborg Sealing Solutions, contribute to the build of the world’s largest and most efficient containerships, the Maersk Triple E class family, built by Korea’s Daewoo Shipbuilding.