Corporation Reports News

Miami-based shiplift supplier Pearlson Shiplift Corporation reports it has secured four contracts within the past nine months, boosting its order backlog to more than $200 million.A privately held company with a global presence, Pearlson Shiplift Corporation engineers and delivers complex shiplift and transfer systems for both military and commercial shipyards.Recent orders include shiplift systems for BAE Systems – Jacksonville Ship Repair, the Korean Coast Guard and Horizon Yacht Company, as well as one undisclosed project to be announced in the coming months.

Yang Ming Marine Transport Corporation said that the consolidated revenues of Q1 totaled NTD 31.03 billion (USD 1.07 billion), up 2.58% compared with NTD 30.25 billion (USD 1.04 billion) in revenue from previous year. The company’s net loss, after tax, was NTD 1.95 billion (USD 67 million), EPS NTD-0.75. Volumes in 2018 Q1 also increased to 1.22 million TEUs, up 9% year over year. Under an improving container shipping market, Yang Ming has returned to profitability last year. In spite of the typical first quarter slack season, the financial report has shown continued year-on-year growth in volume and revenue which was better than expected, and also demonstrates the progress of Yang Ming’s strategy and global efficiency enhancement.

Iron ore, dry bulk cargo and general cargo shipments remain strong on the St. Lawrence Seaway, with overall tonnage up 18 percent over last year. The St. Lawrence Seaway Management Corporation reports that cargo shipments from March 20 through July 31 totaled more than 16 million metric tons – up 2.5 million metric tons over the same period in 2016. “We continue to see demand for raw materials that are needed for construction and in the manufacturing and automotive industries,” said Bruce Burrows, President of the Chamber of Marine Commerce.

With strong increases in iron ore and other cargo, total tonnage shipped via the St. Lawrence Seaway is up 20 percent over last year. The St. Lawrence Seaway Management Corporation reports that cargo shipments from March 20 to June 30 totaled more than 12 million metric tons – up two million metric tons over the same period in 2016. “St. Lawrence Seaway shipping is a bellwether for the health of the overall U.S. and Canadian economies and reflects strong demand for raw materials to support the automotive…

Danaos Corporation reports its results for the third quarter of 2016 in the aftermath of the bankruptcy of Hanjin Shipping, one of Danaos' large customers. Danaos' CEO Dr. John Coustas says: "As a result of the bankruptcy, we did not recognize any operating revenues for the vessels that had been chartered to Hanjin during the quarter. As a result of the Hanjin bankruptcy we also recorded a write-off of $15.8 million, representing the outstanding charter hire owed to us by Hanjin as of June 30, 2016. Additionally, principally as a result of the effects of the cancellation of the Hanjin charters, the Company was in breach of certain financial covenants as at September 30, 2016 for which we have obtained waivers until April 1, 2017.

The MOL Express, a 4,600 TEU container vessel which went aground in Tateyama Harbor, Japan on January 11, was successfully refloated, Seaspan Corporation reports. No crew injuries and no environmental consequences from this incident have been reported. An investigation into the cause of the grounding is underway. The vessel is currently on charter to MOL, is managed by Seaspan Corporation, and is owned by MOL affiliate GCI.

Seaspan Corporation reports the MOL Express, a 4,600 TEU container vessel went aground in Tateyama Harbour, Japan on January 11, 2015. There were no reported crew injuries and all preliminary reports indicate the hull is in a stable condition, and no environmental damage has occurred. Seaspan and MOL, with the assistance of salvage experts, are working on refloating the vessel and restoring it to its original condition. All parties involved are working closely with the appropriate authorities. The vessel is currently on charter to MOL, is managed by Seaspan Corporation, and is owned by Greater China Intermodal Investments LLC, a joint-venture between the Seaspan Corporation, the Carlyle Group, and affiliates of the Washington family and Tiger Group Investments.

Seaspan Corporation reports the MOL Express, a 4,600 TEU container vessel went aground in Tateyama Harbour, Japan on January 11, 2015. There were no reported crew injuries and all preliminary reports indicate the hull is in a stable condition, and no environmental damage has occurred. Seaspan and MOL, with the assistance of salvage experts, are working on refloating the vessel and restoring it to its original condition. All parties involved are working closely with the appropriate authorities. The vessel is currently on charter to MOL, is managed by Seaspan Corporation, and is owned by Greater China Intermodal Investments LLC, a joint-venture between the Seaspan Corporation, the Carlyle Group, and affiliates of the Washington family and Tiger Group Investments.

Danaos Corporation reports fourth quarter and full year results for the year ended December 31, 2012. Operating revenues of $151.8 million for the three months ended December 31, 2012 compared to $128.3 million for the three months ended December 31, 2011, an increase of 18.3%. Operating revenues of $589.0 million for the year ended December 31, 2012 compared to $468.1 million for the year ended December 31, 2011, an increase of 25.8%. Adjusted EBITDA1 of $112.4 million for the three months ended December 31, 2012 compared to $88.8 million for the three months ended December 31, 2011, an increase of 26.6%. Adjusted EBITDA1 of $431.7 million for the year ended December 31, 2012 compared to $318.6 million for the year ended December 31, 2011, an increase of 35.5%.

Danaos Corporation reports (unaudited) Second Quarter and Half Year results for the period ended June 30, 2012. •    Operating revenues of $146.7 million for the three months ended June 30, 2012 compared to $114.8 million for the three months ended June 30, 2011, an increase of 27.8%. Operating revenues of $280.9 million for the six months ended June 30, 2012 compared to $213.8 million for the six months ended June 30, 2011, an increase of 31.4%. •    Adjusted EBITDA1 of $106.7 million for the three months ended June 30, 2012 compared to $78.4 million for the three months ended June 30, 2011, an increase of 36.1%. Adjusted EBITDA1 of $203.2 million for the six months ended June 30, 2012 compared to $143.6 million for the six months ended June 30, 2011, an increase of 41.5%.

Marine Products is a leading manufacturer of fiberglass boats under two brand names: sterndrive and inboard pleasure boats by Chaparral, including H2O Sport and Fish & Ski Boats, SSi and SSX Sportboats, Sunesta Sportdecks, Xtreme Towboats, Signature Cruisers and Premiere Sport Yachts, and outboard sport fishing boats by Robalo. For the quarter ended March 31, 2012, Marine Products generated net sales of $37,849,000, a 39.4 percent increase, compared to $27,148,000 last year. The increase in net sales was due to a 54.1 percent increase in the number of boats sold, partially offset by an 11.3 percent decrease in the average selling price per boat.

* First quarter 2011 cash flow from vessel operations of $136.4 million. * First quarter 2011 adjusted net loss attributable to stockholders of Teekay of $27.9 million, or $0.39 per share (excluding specific items which decreased GAAP net income by $1.8 million, or $0.02 per share). * Completed sale of remaining 49 percent interest in Teekay Offshore Operating L.P. to Teekay Offshore Partners for $390 million; Teekay Offshore increased cash distribution by 5.3 percent. * Agreed…

Athens, Greece, May 4, 2011 - Danaos Corporation ("Danaos") (NYSE: DAC), a leading international owner of containerships, today reported unaudited results for the period ended March 31, 2011. * During the first quarter of 2011, we took delivery and deployed two newly built containership vessels with an aggregate carrying capacity of 13,500 TEU. * Operating revenues of $99.0 million for the quarter ended March 31, 2011. * Adjusted net income of $11.4 million or $0.10 per share for the quarter ended March 31, 2011. * Adjusted EBITDA1 of $65.2 million for the quarter ended March 31, 2011.

Mobile, Alabama, April 27, 2011 – International Shipholding Corporation (NYSE: ISH)  announced the financial results for the quarter ended March 31, 2011. The Company reported net income of $24.1 million for the three months ended March 31, 2011, which included a gain on the Dry Bulk transaction of $18.7 million. For the comparable three months ended March 31, 2010, the Company reported net income of $10.6 million, which included a gain of $1.4 million on the sale of a Panamax Bulk Carrier.

ATLANTA, April 27, 2011 – Marine Products Corporation (NYSE: MPX) announced its unaudited results for the quarter ended March 31, 2011. Marine Products is a leading manufacturer of fiberglass boats under two brand names: sterndrive and inboard pleasure boats by Chaparral, including Premiere Sport Yachts, SSi and SSX Sportboats and Cuddy Cabins, Sunesta Sportdecks, Xtreme Towboats, Signature Cruisers, and outboard sport fishing boats by Robalo. For the quarter ended March 31, 2011, Marine Products generated net sales of $27,148,000 a 10.8 percent increase compared to $24,493,000 last year.

Athens, Greece, March 17, 2011 – Danaos Corporation ("Danaos") (NYSE: DAC), an international owner of containerships, reported unaudited results for the period ended December 31, 2010. * We took delivery of one 3,400 TEU containership in October 2010, and two more newly built vessels with an aggregate carrying capacity of 13,500 TEU during 2011. * Operating revenues of $100.5 million and $359.7 million for the three months and year ended December 31, 2010, respectively. * Adjusted…

International Shipholding Corporation reported results for the quarter ended September 30, 2001. Net loss for the third quarter was $165,000 as compared to net income of $418,000 for the third quarter of 2000. For the nine months of 2001, International Shipholding Corporation reported a net loss of $62.9 million as compared to net income of 461,000 during the first nine months of 2000. Since the second quarter announcement, International Shipholding Corporation’s intent to dispose of certain of its assets, their Cape-size Bulk Carrier was sold during the third quarter. The process of disposing of the LASH Assets and the special purpose barges is continuing.

common-rail marine engines. million bhp). sector. Sulzer RT-flex96C type for large container liners. built under licence in Korea and Japan. containership newbuilding orders. RT-flex60C engines and seven RT-flex58T-B engines. low-speed marine engines by Wärtsilä Corporation. valve operation with fully-integrated electronic control. major step in the development of large marine diesel engines. speeds for better manoeuvring. Service experience with Sulzer RT-flex engines is building up. hours. She entered service in September 2001. recently completed. Industries Ltd in Japan. service at the end of August 2003. Estaleiros Navais de Viana do Castelo in Portugal. September 2003. of September. She was built by Shanghai Shipyard in China.

Noble Corporation reports that its subsidiary's dynamically positioned drillship, the Noble Leo Segerius, currently located offshore Brazil and contracted to Petroleo Brasiliero S.A. (Petrobras), has sustained damage to its forward crane. No injuries to personnel were incurred as a result of this incident. The company is presently making final arrangements for expediting shipment of a new-built crane to Brazil for replacement of the damaged unit. The drillship has mobilized quayside to prepare for installation of the new-built crane. Noble currently estimates the rig returning to operation under its term contract with Petrobras by mid January 2003.

For the year 2000, Wärtsilä Corporation reports that 24 Sulzer RTA84T low-speed diesel engines with an aggregate power output of 713.4 MW (970,800 bhp) have been ordered for installation in very large tankers contracted at shipyards in China, Japan and South Korea. The engines will all be built by licensees of Wärtsilä in Japan and Korea. Altogether there are now 78 Sulzer RTA84T engines (including the -B and -D versions) delivered or on order, with a combined output of 2,171.9 MW (2.95 million bhp). Ten 305,000 dwt oil tankers recently contracted in China and South Korea by National Iranian Tanker Co (NITC) will each be propelled by a seven-cylinder Sulzer RTA84T-B low-speed diesel engine.

For the year 2000, Wärtsilä Corporation reports that 24 Sulzer RTA84T low-speed diesel engines with an aggregate power output of 713.4 MW (970,800 bhp) have been ordered for installation in very large tankers contracted at shipyards in China, Japan and South Korea. The engines will all be built by licensees of Wärtsilä in Japan and Korea. Altogether there are now 78 Sulzer RTA84T engines (including the -B and -D versions) delivered or on order, with a combined output of 2171.9 MW (2.95 million bhp). Ten 305,000 dwt oil tankers recently contracted in China and South Korea by National Iranian Tanker Co (NITC) will each be propelled by a seven-cylinder Sulzer RTA84T-B low-speed diesel engine.

Carnival Corporation reported net income of $500.8 million ($0.85 Diluted EPS) on revenues of $1.44 billion for its third quarter ended August 31, 2002, compared to net income of $495 million ($0.84 Diluted EPS) on revenues of $1.49 billion for the same quarter in 2001. Net income for the nine months ended August 31, 2002 was $824.6 million ($1.40 Diluted EPS) on revenues of $3.33 billion, compared to net income of $809.9 million ($1.38 Diluted EPS) on revenues of $3.58 billion for the same period in 2001. Earnings for the third quarter of 2002 included a $34 million income tax benefit from the company's Costa Cruise operation resulting from a new Italian investment tax law. This was partially offset by a provision of $20 million related to a vessel write-down.