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, “Our performance over the last few years means we have a solid financial foundation for growth in the future, which is essential for our One Hempel – One Ambition strategy. We have the financial capability to look at new investments and acquire new businesses should the right opportunity appear, and we will continue to expand production capacity and develop new products in 2013.” Hempel’s 2012 results: • Group revenues rose from EUR 1,077 million in 2011 to EUR 1,242 million in 2012 • EBITDA of EUR 126 million with an EBITDA margin above 10% • Operating profit of EUR 83 million, up from EUR 72 million in 2011 • Net profit of EUR 35 million, level with 2011 The Hempel Group's revenues grew by 15% in 2012 thanks largely to a solid performance in the Industry segment – which was bolstered by growth in new markets, including Eastern Europe – and the inclusion of Crown Paints for the full year.
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
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
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.
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 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
RasGas Managing Director said that Qatar's vast North Field is expected to produce 25b standard cubic feet per day (scfd) of natural gas by 2012 compared to the current 7bn scfd of natural gas, The Peninsula reported. While addressing the Qatar Financial Centre QFC, the director stated that Qatar will soon account for 30 per cent of the total liquefied natural gas (LNG) production in the world. He said that RasGas accounts for 21 million tons per year(mtpa) out of the 30 mtpa produced by
The Manitowoc Company said that it has completed the previously announced redemption of its 10.5% Senior Subordinated Notes due 2012. The call premium paid to note holders was 105.25% of the principal amount of the notes. The total cash paid was $129 million which included the call price, accrued and unpaid interest and other related costs at the time of redemption. The Bank of New York, trustee for the issue, redeemed the notes through its New York office
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
Rowan completed the refinancing of its $156.8 million of outstanding floating-rate Gorilla VI debt through the issuance of a 5.88% fixed-rate note maturing in March 2012. As a result of this transaction, Rowan expects to realize a $1.8 million reduction in interest expense in 2001 compared to 2000. The floating-rate debt was issued under the Title XI program of the U. S. Department of Transportation's Maritime Administration to finance the construction of Rowan Gorilla VI
The BallastMaster ultraV developed by GEA Westfalia Separator for ballast water treatment has been awarded the "Alternate Management System" (AMS) certificate. The approval was awarded by the United States Coast Guard (USCG) on November 11, 2013
Royal Caribbean International’s newly revitalized 2,360-passenger Serenade of the Seas arrives at the Port of New Orleans’ Julia Street Cruise Terminal Dec. 12 to sail weekly itineraries through April. The 965-foot cruise ship was completely refurbished in December 2012 and replaces
FreeSeas Inc., a transporter of dry-bulk cargos through the ownership and operation of a fleet of Handysize and Handymax vessels, announced that it has entered into terms with the insurers of M/V Free Goddess pursuant to which the sum of $1.1 million will be paid by the insurers to the company
Chinese technology and communication major Huawei has inaugurated a pilot distribution center at Piraeus port, which they say is another significant step to enhance co-operation between the two countries. The new distribution center is located at the premises of Chinese multinational shipping
With 3.4 million square nautical miles of U.S. waters to survey and chart, Coast Survey is up against some big challenges in keeping nautical charts current, consequently NOAA joins hands with the US Coast Guard to provide the best possible safety service to shipping.
Shuttle tankship owners and operators KNOT Offshore Partners report net income of $6.4 million and operating income of $9.4 million for the third quarter of 2013, as compared to net income of $0.2 million and operating income of $9.1 million for the same period in the prior year.
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, announced its unaudited financial and operating results for the three and the nine months ended September 30, 2013. Adjusted Net income for the third quarter of 2013 was $2
Stephen Hammond, Parliamentary Under-Secretary of State for Transport, United Kingdom, welcomed delegates to the 28th IMO Assembly, the Organization's highest governing body, on behalf of the host Government. In his opening address
Tundra Maritime Defense Services (MDS), has been certified by Lloyd’s Register Quality Assurance (LRQA) to ISO/PAS 28007, the Guidelines for Private Maritime Security Companies (PMSCs). The certification, explains Tundra, gives established guidelines to private maritime security companies
Joakim (Kim) Ullman has been appointed President of Concordia Maritime AB with effect from 1 January 2014. Kim comes from Stena LNG where he has been CEO since 2012 and he will replace Hans Norén who will leave Concordia Maritime at the end of the year after ten years as president.
MAN Diesel & Turbo’s PrimeServ retrofit team signed an agreement with Great Eastern Shipping Company (GESCO) of Mumbai, India regarding a propeller retrofit upgrade for their M/T Jag Lavanya – a Samsung-built 105,000 DWT crude oil carrier from 2004.
MAN Diesel & Turbo’s PrimeServ retrofit team is to supply India's Great Eastern Shipping Company (GESCO) of Mumbai with an upgrade retrofit propeller for their tankship 'Jag Lavanya', a Samsung 2004- built 105,000 dwt crude oil carrier. Kappel fixed pitch propellers
EU-funded initiative on gas-fuelled, two-stroke ship engines A major international conference on November 27 in Copenhagen marked the final phase of the EU-funded Helios project. Helios is a cooperation research project within the EU´s seventh Framework Program for Research and Technical
As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, the Bureau of Ocean Energy Management (BOEM) today announced that it will hold Gulf of Mexico Eastern Planning Area oil and gas lease sale 225 in New Orleans
Classification society ClassNK announced that the ClassNK register topped 220 million gross tons for the first time at the end of November 2013. The announcement was made following the November meeting of the ClassNK Classification Committee, which certified the ClassNK register listed 8