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2012 Results

Ulstein Reports Improved 2013 Results

Gunvor Ulstein (photo courtesy the Ulstein Group)

Ulstein Group reported it delivered a good result for 2013 with an operating income of NOK 2.3 billion compared to 2012’s result of NOK 2.27 billion. Similarly, Ulstein’s operating profits improved in 2013 to NOK 317.8 million from NOK 228 million in 2012. The group’s operating result before tax was NOK 360.8 million, compared to NOK 211.4 million in 2012. Ulstein said it currently has more than 40 vessels in order, of which six to be built at its own yard, while the rest are being built at several shipyards worldwide. At the end of 2013, Ulstein Group had an order reserve of NOK 2.6 billion. “We have worked long-term and strategically to get where we are today,” said CEO of Ulstein Group, Gunvor Ulstein. “Selling design and equipment packages worldwide gives good ripple effects back into the maritime cluster. High competence, extensive experience and focus on project management make deliveries of ships to agreed price, quality and time possible.” Ulstein also delivered the IMR vessel Seven Viking in 2013, a vessel Ulstein calls a next generation offshore construction vessel built for operations in the harshest environments has set a new standard in the North Sea. Additionally, Ulstein delivered three platform supply vessels of PX121 type design from our own yard last year. Nordic American Offshore bought the three PSVs and additional four PX121 vessels.


Hempel Releases Annual Report 2012

Photo: Hempel

Hempel Group reported that its revenues grew by 15% in 2012, despite facing a challenging world market, and the Group is still on track to achieve its long-term goals. The Hempel Group delivered an all-time high revenue of EUR 1,242 million in 2012. EBITDA reached a record high of EUR 126 million, an increase of 21 million compared to 2011. Net profit remained level with2011 at EUR 35 million. Pierre-Yves Jullien, Group President and CEO of Hempel A/S, commented


Intelsat Reports Second Quarter 2012 Results

Satellite investment program progresses with three launches planned for third quarter; Intelsat EpicNG high performance satellite platform establishes leadership with long-term commitments.    Intelsat S.A., the world's leading provider of satellite services, reported financial results for the three months ended June 30, 2012. Intelsat S.A. reported revenue of $638.7 million and a net loss of $84.0 million for the three months ended June 30, 2012


LNG Carrier Owners GasLog Report Q2 2012 Results

GasLog Ltd., owner, operator & manager of liquefied natural gas (“LNG”) carriers, reports financial results for second quarter 2012. GasLog’s fleet consists of 10 wholly-owned LNG carriers, including two ships delivered in 2010 and eight LNG carriers on order. In addition, GasLog currently has 12 LNG carriers operating under its technical management for third parties. Highlights of the report: • Continued strong fundamentals for the LNG industry.


Kværner ASA : Q4 & Preliminary 2012 Results

Kværner reported operating revenues of NOK 2 930 million in the fourth quarter 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 119 million, resulting in an EBITDA margin of 4.1 percent. The order backlog amounted to NOK 21 262 million.   "The record high order backlog provides a good foundation for the activity level over the next years. Furthermore, it provides us with a strong basis to optimise our execution and improve our


Trico Marine Completes Exchange Offer

Trico Marine Services, Inc. announced that as of 5:00 p.m., New York City time on September 26, 2002, its offer to exchange up to $250 million principal amount of its registered 8 7/8% Senior Notes due 2012 for any and all outstanding unregistered 8 7/8% Senior Notes due 2012 expired and that all of its unregistered 8 7/8% Senior Notes due 2012 were tendered in the exchange offer and accepted


Diana Containerships Post Q4 2013 Loss But Pays Dividend

Image courtesy of Diana Containerships

Greece-based container ship owners, Diana Containerships Inc. in financial results for the Fourth Quarter and Year Ended December 31, 2013 report a net loss of $19.8 million for the fourth quarter of 2013, compared to net income of $0.3 million for the respective period of 2012. The Company explains that the loss for the fourth quarter was mainly the result of $9.7 million of impairment charges for the vessel Sardonyx


Shipbuilding Company to Stay Busy Until 2012

Taiwan's CSBC has received orders for 11 container ships, which boosts CSBC's total orders to 67 ships, enough to keep CSBC busy until 2012, the company said on Tuesday. On Monday, CSBC signed a contract to build seven container ships for Taiwan's Yangming Marine, CSBC President Fan Kuang-nan told Deutsche Presse-Agentur dpa. The order, worth 800m, is for five 8,240-TEU container ships and two 6,600-TEU container ships, to be delivered before 2012.


Boskalis H1 2013 Results Pointing to Record Profit

Boskalis Logo

In their half year 2013 report the Boskalis Board of Management expects that, barring unforeseen circumstances, net profit for the 2013 financial year will be at least EUR 330 million, including the book gain of approximately EUR 50 million on the sale of the 40% stake in Archirodon that will be accounted for in the second half of the year. HIGHLIGHTS OF FIRST HALF 2013     •    Revenue rises to record level of EUR 1.6 billion


Sarnoff Awarded $11.3m Navy Contract

Sarnoff Corp., Princeton, N.J., is being awarded an $11,294,243 cost-plus-fixed-fee contract for engineering tasks for the design, manufacture, installation and repair of Navy Special Projects Systems associated with the Electro-Optic and Special Mission Sensors Program. This effort will include focus on the research, development, analysis, and prototyping of a family of systems that result in a C4ISR system architecture. Work will be performed in Princeton, N.J


ICS Dismisses Claims of Worsening Ship Efficiency

The International Chamber of Shipping (ICS) has dismissed the recent claim by the European environmental lobby group Transport and Environment (T&E) that modern ships are somehow less CO2 efficient than those built over 20 years ago as ‘fanciful’.


Shipping is Cutting CO2 Emissions

Image: United Nations News Centre

 London-based shipping advisors Drewry Supply Chain Associates said that shipping liner operators have made significant inroads into cutting CO2 emissions.   In its April Logistics Executive Briefing for Importers and Exporters, Drewry Supply Chain Advisors concludes that “overall


US Well Control Regulations Proposed

BSEE Director Brian Salerno

U.S. Interior Department releases proposed well control regulations to ensure safe and responsible offshore oil and gas development; result of extensive consultation, evaluation after Deepwater Horizon   In response to the findings of investigations into the Deepwater Horizon tragedy


Incat Crowther Opens Europe Office

36m Catamaran Passenger Ferry Luanda

  Incat Crowther reported it has opened an office in Europe. Located in Southampton, United Kingdom, the office has been created to support a growing European client base and meet the demand for Incat Crowther’s products and services in the region, the company said.


Next Gen Tankers Delivered to Concordia Maritime

Stena Image (Photo courtesy of Concordia Maritime)

Concordia Maritime takes delivery of the next generation of chemical and product tankers   Concordia Maritime’s first chemical and product tanker based on the IMOIIMAX concept, the Stena Image, was delivered from the Chinese shipyard GSI (Guangzhou Shipbuilding International) in


ISU Honors Costa Concordia Salvors

Photo courtesy of TITAN Salvage

Crowley Maritime Corp.’s Houston-based subsidiary TITAN Salvage and Italian engineering partner Micoperi were honored with the International Salvage Union (ISU) Meritorious Service Award during the organization’s Associate Members’ Day Conference in London


Can Shipping Lines Survive?

Image: World Shipping Council

 The world's shipping lines risk bankruptcy and will have to shed assets in order to stay afloat. The outlook for the global container shipping industry remains challenging for the remainder of 2015, according to the new report from AlixPartners.   


Powerful Submarines Join Israel’s Navy

The new Tanin (Crocodile) submarine en route to Israel from Germany. Image by Israel Defense Forces

 The Israel Navy’s fourth submarine, the ISS Tanin (Crocodile), is expected to become fully operational in a few weeks and participate in naval operations.   The nuclear-capable submarine boasts an array of sophisticated weaponry


Big Spending on Liquefaction Terminals

Capital expenditure (Capex) on global liquefied natural gas (LNG) facilities is expected to total $259 billion over the forecast period 2015-2019, according to the new ninth edition of Douglas-Westwood’s (DW) World LNG Market Forecast 2015-2019


Container Shipping Outlook Uncertain in 2015: AlixPartners

Photo courtesy of Maersk Lines

  The outlook for the global container shipping industry remains challenging for the remainder of 2015, according to a new report from AlixPartners.   In its annual outlook for the industry, the global business-advisory firm predicts that operating improvements will continue to prove


Robust Results from DP World

Chart

Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the twelve months ended 31 December 2014. Like-for-like1 revenue grew 11.3% and adjusted EBITDA increased 16


Conservation Efforts in Revised ESA Listing of Green Sea Turtle

Green sea turtles are found around the globe in tropical and subtropical waters. (Credit NOAA)

  NOAA Fisheries and the U.S. Fish and Wildlife Service proposed today to reclassify the green sea turtle under the Endangered Species Act, and list turtles originating from two breeding populations currently considered endangered as threatened due to improvements in their populations.


COMSYS Report Confirms Intellian's Leadership

Courtesy Intellian

  The 4th Edition of the COMSYS Maritime VSAT Report confirms Intellian as the leading company within the stabilised antenna market, with a 35.6% share of the market. “Intellian now leads the market under a single brand having achieved spectacular results since 2012


US to Hold Offshore O&G Lease Sale

Photo: Alex Sergienko

U.S. Secretary of the Interior Sally Jewell will travel to New Orleans on Wednesday, March 18, 2015 to attend and open bids at an oil and gas lease sale offering 41.2 million acres for exploration and development in the Central Planning Area offshore Louisiana, Mississippi and Alabama.  


Knightsbridge Completes Vessel Acquisition

Knightsbridge Shipping Limited announce that the second and final stage of its vessel acquisition transaction with Frontline 2012 Ltd. has closed.   The company has issued 31 million shares to Frontline 2012 Ltd. in exchange for 12 Cape size bulk carrier newbuildings.  






 
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