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Corporation Reports

International Shipholding Corporation Reports Third Quarter Results

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. The nine-month results for 2001 reflect a previously reported asset impairment loss of “Assets Held-for-Disposal” of approximately $51.6 million, net of taxes, in accordance with FASB 121, “Accounting for the Impairment of Long-lived Assets.” This non-cash charge was made to write down certain assets to estimated market value as part of the Board of Directors previously announced plan to separate the Lighter Aboard Ship (LASH) service, one 1981-built Cape-size Bulk Carrier and certain special purpose barges from the balance of its operations and to reclassify these assets in their balance sheet as “Assets Held for Disposal.” 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. Excluding the $51.6 million impairment loss, net loss for the nine months of 2001 was $11.3 million as compared to net income of $61,000 for the nine months of 2000.


GlobalSantaFe Worldwide September SCORE Up 1.7 Percent

SCORE ReportsWorldwide oil and gas drilling contractor GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for September 2006 increased 1.7% to 130.4 from the previous month's SCORE of 128.1. GlobalSantaFe's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980- 1981 peak of the offshore drilling cycle


Stratos Announces 4Q Results

Stratos Global Corp. announced financial results for the fourth quarter and year ended December 31, 2005. The Corporation reported net earnings in 2005 of $5.4 million, or $0.13 basic earnings per share, compared with $25.1 million, or $0.51 basic earnings per share, reported in 2004. Revenue for 2005 was $381.0 million, a 4 percent improvement compared with the $367.8 million achieved in 2004. Segment earnings for 2005 were $58.2 million, compared with $78.1 million reported for the prior year


GlobalSantaFe SCORE Improves

Worldwide oil and gas drilling contractor GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for December 2004 was up 3.6% from the previous month's SCORE. GlobalSantaFe's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980- 1981 peak of the offshore drilling cycle. In the 1980-1981 period, when SCORE averaged 100 percent


Northrop Reports 4Q Results

Northrop Grumman Corporation reported 2001 fourth quarter economic earnings of $158 million, compared with $106 million for the same period of 2000. On a per share basis, the company reported 2001 fourth quarter economic earnings of $1.55 on average diluted shares outstanding of 98.0 million, compared with economic earnings of $1.46 on average diluted shares outstanding of 72.5 million for the fourth quarter of 2000. Under Generally Accepted Accounting Principles (GAAP)


VSE Comments Further on SeaPort Enhanced Contract Award

VSE Corporation reported that its Fleet Maintenance Division was awarded a contract by the U.S. Naval Surface Warfare Center, Dahlgren Division. The contract, entitled SeaPort Enhanced ("SeaPort-e"), is a multiple award, indefinite delivery, indefinite quantity contract, and accordingly, actual VSE revenue estimates for the contract cannot be predicted. VSE understands that the Navy awarded SeaPort-e contracts to VSE and about


Offshore SCORE Drops in November

GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for November 2002 was down from the previous month's SCORE by 1.0 percent. GlobalSantaFe President and CEO Sted Garber said, "Worldwide SCORE was essentially flat in November. SCORE in the various international markets continues to fluctuate. The offshore drilling rig market will likely be in a holding pattern until operators' 2003 exploration and production budgets provide


General Maritime Corp. Announces 3Q Results

General Maritime Corporation reported its financial results for the three and nine months ended September 30, 2006. Financial Review: 2006 Third Quarter The company had net income of $24.0m, or $0.78 basic and $0.76 diluted earnings per share, for the three months ended September 30, 2006 compared to net income of $7.2 million, or $0.19 basic and $0.19 diluted earnings per share, for the three months ended September 30, 2005


ENSCO Rig Damaged in Blowout

ENSCO International Incorporated and Forest Oil Corporation reported that one of ENSCO's jackup rigs sustained extensive damage while operating in the Gulf of Mexico. ENSCO 51 was on location in Eugene Island Block 273 drilling a development well over a platform (the ``A'' platform) for its customer, Forest, the operator of the block. Eugene Island Block 273 is located approximately 75 miles offshore. Shortly after midnight on Thursday, March 1


Lockheed, Navy Display Systems Contracts

Lockheed Martin has received a six-year contract from the U.S. Navy to provide performance-based logistics support for the AN/UYQ-70 (Q-70) Advanced Display System. The contract provides Q-70 logistics and supply support at over $13m a year for the first two years, with options for additional support over the next four years, bringing the total potential contract value to $72m. This contract follows a recently awarded $525


Grounded MOL Express being Salvaged

  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


Salvors Work to Free Grounded MOL Express

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


MOL Express Refloated

MOL Express

  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


MHI Receives "Grand Prix" Award

High Marks Given to MHI REPORT 2014

  Mitsubishi Heavy Industries, Ltd. (MHI) has received the Grand Prix at the Nikkei Annual Report Awards 2014 sponsored by Nikkei Inc. The Grand Prix is the top award to be given to the company most highly appreciated by judges. The award-winning publication is the "MHI REPORT


Telephonics Announces Leadership Reorganization

Telephonics Corporation, a wholly owned subsidiary of Griffon Corporation (NYSE:GFF), said that Kevin McSweeney has been named COO of Telephonics, a new position reporting directly to Joseph J. Battaglia, President and Chief Executive Officer of Telephonics


Boat Sales Up in Q1 Reports Marine Products Corp

Marine Products Corporation Reports First Quarter 2012 Financial Results 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


Greek Containership Owners, Danaos, Report Growth

Danaos Corporation reports (unaudited) Second Quarter and Half Year results for the period ended June 30, 2012. Highlights for the Second Quarter and Half Year Ended June 30, 2012:     •    Operating revenues of $146


Teekay Tankers Post Loss in Q2 2012

Teekay Tankers Ltd. reports results for the three months ended June 30, 2012, pays out reduced dividend compared to Q1. Excerpts from the quarterly report follow: In June 2012, Teekay Tankers completed the previously announced acquisition from [parent company] Teekay Corporation of 13 double


Wärtsilä Interim Financial Report

Wärtsilä Corporation report January to September 2012 indicates growth in orders & net sales despite tough markets. Highlights of the review period Jan – Sept 2012. Order intake increased 10% to EUR 3,583 million (3,267)


Greece's Danaos Maintains Last Year's Profitability

Danaos Corporation reports fourth quarter and full year results for the year ended December 31, 2012. Financial highlights: 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


World's Biggest Coal Port Lease for Sale

Port of Newcastle from the air: Image credit NSW Govt.

Australia's NSW government will go ahead with the long-term lease of the Port of Newcastle, the world’s biggest coal export location by annual capacity for a reported figure of around $700m, reports the Australian Journal of Mining.


Sustainability Report: Carnival Ahead of Emissions Goal

Photo: Carnival

Carnival Corporation & plc released a report today detailing its sustainability efforts, including initiatives which enabled the company to meet its corporate goal to reduce its rate of CO2 emissions from shipboard operations by 20 percent, a year ahead of its initial plan


Keppel Listed on Global Sustainability Indices

Driven by a firm commitment to continuously strengthen its environmental, social and governance (ESG) management and strategy, Keppel Corporation's sustainability efforts have gained momentum, affirmed by inclusion on several global sustainability benchmarks in recent months.


China Names 9 Shipyards for 'Favorable' Treatment

China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market. In September, it published a list of 51 yards which it later cut to 50


China Adds 9 Shipyards to Favored 'White List'

Photo: China Shipbuilding Industry Corporation

China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market.   In September, it published a list of 51 yards which it later cut to 50






 
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