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Financial Report

Technip Files Financial Report with AMF

Technip - a project management, engineering and construction company serving the energy industry - has filed his First Half 2011 Financial Report with the French “Autorité des Marchés Financiers” (AMF). The document, filed today, is available on Technip’s website: www.technip.com under: Investor relations/Regulatory Filings (AMF).


Fincantieri, New Bay Shipbuilding Company VP

Marinette Marine Corporation (MMC) a Fincantieri company, welcomes Gene Caldwell as the new Vice President and General Manager of Bay Shipbuilding Company, a member of the Fincantieri Marine Group. Caldwell’s resume includes shipbuilding experience in multiple facets of the Ship Building Industry including vessel and rig repair, new commercial and government vessel construction, project management, contract negotiation, sales & marketing, safety, QA/QC and financial reporting


W&T Offshore Announces Appointments

W&T Offshore, Inc. announced the appointment of Karen S. Acree as Vice President and Controller. John D. Gibbons, the Senior Vice President and Chief Financial Officer, has assumed the additional position of Chief Accounting Officer. William W. Talafuse, formerly Senior Vice President and Chief Accounting Officer, has accepted other duties with the Company. Acree has 25 years of public company accounting and financial reporting experience


Concordia Maritime Introduces Smartphone App

Concordia Maritime recently launched its own Smartphone App. Shareholders can access the latest share prices and trades, along with financial reports and annual reports. Other features include press releases, fleet information, business contacts and address book integration, and office locations and directions. “We always strive to make it easy for our stakeholders to follow us. We put a lot of effort into explaining what we do and how we do it


Genco Shipping Report Net Loss in Q1 2012 Results

The Company recorded net loss of US$27.7-million by Genco in the second quarter of 2012 Extracts from the Genco financial report follow: The financial report showed a loss attributable to Genco for the second quarter of 2012 of $27.7 million, or $0.65 basic and diluted loss per share. Comparatively, for the three months ended June 30, 2011, net income attributable to Genco was $10.1 million, or $0.29 basic and diluted earnings per share.


China COSCO Turns its Financial Ship Around in 2013

Image courtesy of China COSCO

China COSCO Holdings Co. Ltd, the country's largest shipper, indicates a profit turnaround in 2013 after suffering heavy losses for two consecutive years, reports Xinhau. According to COSCO's earlier, 2013, financial report, the Shanghai-listed company made cutting operational costs a major task for 2013. The Group carried out various measures to overcome the difficulties, including the disposal of its interest in COSCO Logistics and COSCO Container Industries and stringent cost control.


Fugro Gulf Selects ABS NS SafeNet Fleet Management Software

Fugro Gulf Inc., a leader in the provision of offshore geotechnical services, has contracted with ABS Nautical Systems for seven modules from their suite of advanced SafeNet fleet management system software. Fugro Gulf's contracted ship management company, New Offshore Inc., Morgan City, LA, will use the modules and manage vessel operational activities on behalf of Fugro Gulf Inc. Fugro Gulf Inc. has contracted for the Maintenance & Repair, Purchasing & Inventory Control


Northrop Names Leukhardt CFO for NN

Northrop Grumman Corporation's Newport News sector announced the appointment of Linda Leukhardt as sector vice president of business management and chief financial officer. Leukhardt, 43, is responsible for the financial systems, programs and processes that ensure the successful accomplishment of the sector's business objectives. These include accounting and program cost control, rates and budgets, financial reporting and planning


American Shipyard Publishes Q1 2012 Results

Conrad Incustries announce First Quarter 2012 Results & Backlog For the quarter ended March 31, 2012, Conrad achieved net income of $3.2 million and earnings per diluted share of $0.52 compared to net income of $3.7 million and earnings per diluted share of $0.58 during the first quarter of 2011.  The Company's more detailed financial reports are available here. Conrad's backlog was $70.8 million at March 31, 2012 compared to $47.1 million at December 31, 2011 and $112


Creditors Allow FSL Trust More Breathing Space

FSL Shanghai: Photo credit the owners

Formerly financially troubled FSL Trust Management (FSL Trust) says in its latest FY 2013 report that it has successfully secured a loan covenant relaxation until 31 December 2014, which they hope will enable them to move forward. Highlights from the financial reports (Q4 2013 & FY 2013) • Relaxation of loan covenants secured until 31 December 2014 • Business undergone significant restructuring, management now focused on improving


Stolt-Nielsen Changes Accounting for Two Acquisitions

Stolt-Nielsen Limited announced that Finanstilsynet (The Financial Supervisory Authority of Norway) has completed a review of certain aspects of the company's consolidated financial statements for 2012. The company agreed to reverse $12.3 million of the non-cash gains on bargain purchase


Conrad Industries 2013 Profit Slip Ameliorated by New Business

Image courtesy of Conrad Industries

Morgan City, Louisiana, shipbuilder and ship repairer Conrad Industries, has announced its fourth quarter and twelve months 2013 financial result, adding that it has acquired new business during the first quarter of 2014 totalling $67.3 million. Q4 2013


COSCO Shipyards, Like Most Others, Found 2013 Challenging

Mr. Li Yun Peng: Photo courtesy of COSCO

China shipbuilder and repairer COSCO group in its financial report for year ending 31, December 2013, informs that operating conditions for most of 2013 continued to be difficult. The Group’s turnover was $3.5 billion, lower by 6% from $3.7 billion for the year before


Otto Marine's Financial Health on the Mend

Michael See Kian Heng: Photo Otto Marine

Michael See Kian Heng, Group Executive Director of Singapore-based offshore vessel owners & shipbuilders Otto Marine, says that his company reported revenue of US$512.0 million in year 2013, an increase of 36.8% over US$374.4 million in 2012


Technics Targets Vigahs Acquisition

The board of directors of Technics Oil & Gas Limited announced that its subsidiary V Offshore Engineering Pte. Ltd. (VOE) has entered into a nonbinding memorandum of understanding (MOU) with Goh Choon Huat, Koa Wee Boon, Senavannaido Duruvasai and Koa Susie in relation to a proposed


Seadrill Q3 2013 Profit Slips Marginally

Drillship: Image courtesy of Seadrill

In its third quarter 2013 financial report, Seadrill states consolidated revenues were US$1,280 million compared to $1,268 million in the second quarter of 2013, and operating profit for the quarter was US$471 million compared to US$507 million in the preceding quarter.


CH Offshore in 2013 Year-End Financial Doldrums

Image courtesy of CH Offshore

In their financial statement for the first half ended 31, December 2013, Asia-Pacific offshore AHTS/OSV owners CH Offshore recorded profit after income tax of US$14.099-million, which was 26.8% lower than the profit after income tax of US$19


Diamond Offshore Drilling 2013 Profit Slips

Image courtesy of Diamond Offshore Drilling

In the company's financial report for the fourth quarter of 2103 Diamond Offshore Drilling announced that for the full year 2013 their net income of $549 million, or $3.95 per share, compared with net income of $720 million, or $5.18 per share, in 2012.  Revenues for the full year 2013 were $2


Wärtsilä Achieves 2013 Financial Target

Björn Rosengren
: Photo courtesy of Wärtsilä Corporation

Wärtsilä Corporation has published its annual financial report for the year 2013, and President & CEO Björn Rosengren
 introduces it with the following message to shareholders, excerpted as follows: "For Wärtsilä


Car Carrying Volumes Boost WWH Revenues in Q4 2013

Image courtesy of WWH

“Shipping volumes increased in the fourth quarter. As expected, car volumes improved more than high and heavy volumes," stated Thomas Wilhelmsen, group WWH CEO. Extracts from the fourth quarter 2013 financial report follow: Operating profit for the fourth quarter of 2013 was USD 82


KNOT Offshore Partners' Fleet Almost Fully Utilized in Q4 2013

Knot shuttle tankship: Image courtesy of KNOT Offshore Partners

KNOT Offshore Partners reports net income of $7.9 million and operating income of $10.0 million for the fourth quarter of 2013, as compared to net income of $1.5 million and operating income of $5.7 million for the same period in the prior year


Positive Trends Mark Start to Port Authority Year

Notable accomplishments in revenue generation, cargo throughput, professional performance and international recognition highlighted today's monthly meeting of the Port Commission of the Port of Houston Authority (PHA). Executive Director Roger Guenther


Fugro Report 2013 Growth in Subsea Services

Fugro Saltire: Photo courtesy of the owners

Fugro mention they intend to step up investments in their offshore fleet on the back of growth in subsea services reported in its year 2013 financial report, extracted as follows: An in-depth strategic review resulted in the updated strategy ‘Growth through Leadership’


Norway's financial watchdog questions Statoil's 2012 accounts

Oil firm Statoil did not respect International Financial Reporting Standards (IFRS) on three points when it reported its 2012 accounts, according to the Nordic country's financial watchdog, the firm said on Tuesday. Statoil, which says its financial reporting is in line with IFRS


Horizon Lines Continue to Improve Performance in Q4 2013

Photo courtesy of Horizon Lines

Horizon Lines has released its fourth-quarter 2013 financial results showing an adjusted EBITDA increase of 33.1%, which is its 4th consecutive quarter of double-digit Improvement
. "Horizon Lines fourth-quarter adjusted EBITDA increased 33


 
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