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. Prior to joining FMG, he held a senior management position with Signal International, LLC.
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).
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 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
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 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 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
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
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
Nordic American Tankers (NAT) report a cash dividend, strongly improved operating cash-flow and a positive net income in the first quarter of 2014. The Company informs that thanks to a strong winter market, Q1 2014 has produced the best results it has seen in several years. The timecharter results of NAT were significantly better in 1Q2014 than in 4Q2013. The short term rates in tanker markets are very volatile. At the time of this [financial] report the tanker market has weakened
Venezuelan state oil company PDVSA is in talks with oil services companies to turn unpaid bills into financial instruments, a process known as securitization, its president, Eulogio del Pino, said in a statement on Saturday. Several oil services companies suspended or slowed operations this
Today South Carolina Ports Authority reported 2016 fiscal year-end operating earnings of $39 million, revenues of $211 million and operating expenses of $172 million. "The Port closed the FY2016 books with solid financials, reflecting our commitment to achieving the necessary
South Korea's financial regulator said on Wednesday that Hyundai Merchant Marine Co Ltd will seek to acquire healthy assets of troubled shipper Hanjin Shipping Co Ltd. The Financial Services Commission said in a statement that Hanjin will soon file for court receivership but that the impact
Drewry’s Z-score carrier financial stress index sunk to its lowest ever point following the first-half 2016 results. After Hanjin’s bankruptcy shippers are demanding more financial transparency from carriers. There is still much work to be done to clean up the logistical chaos
U.S. shipbuilder Huntington Ingalls Industries (HII) announced today a number of changes across its leadership team. HII’s Board of Directors has elected Christopher D. Kastner to succeed Barbara A. Niland as the company’s chief financial officer and corporate vice president
Dubai-based Gulf Navigation Holding (Gulfnav), a leading maritime and shipping company, has reported a substantial 123 per cent profit growth at the end of the third quarter of 2015 compared to the same period the previous year.
Shipping giant MISC Bhd and oil and gas services provider Bumi Armada Bhd are said to be in merger talk involving the consolidation of the floating production storage offshore (FPSO) businesses of both companies, say local media reports.
Creditors of financially troubled STX Offshore & Shipbuilding are opposing financial aid for the shipyard citing the gloomy outlook of the shipbuilding industry, Korea’s Yonhap News has reported. Creditors of STX Offshore, led by the state-run Korea Development Bank (KDB)
The South Korean government will create a US$1.2 billion ship investment fund to aid the shipping industry which has been struggling due to decreasing global trade. A report by South Korea's Yonhap News Agency said the fund will help shippers buy and sell vessels with less
China's state-owned shipbuilder Zhoushan Wuzhou Ship Repairing & Building Co. Ltd (ZWSRB) is first government-backed shipbuilder to go under since sector started having problems last year. Zhoushan Intermediate People's Court said it accepted a petition filed by
For the third year running, DP World is the top stock in the S&P/Hawkamah Pan Arab ESG Index. The index is the first ever of its kind in the Arab world and ranks the transparency and disclosure of regional listed companies based on Environmental
Shipping and offshore maritime sectors must be alert to implications of new U.S. lease accounting standard The Financial Accounting Standards Board (FASB) in the United States has issued a lease accounting standard update following the release in January 2016 of an International Financial
Global Ports Investments PLC's container traffic slumped 31 percent and revenue sank 28 percent in 2015. Global Ports Investments' revenues fell to USD405.7 million in the year to the end of December. Net loss of the port operator in 2015 amounted to $33.7 million versus $197
China COSCO Shipping Co. Ltd (China COSCO Shipping) officially inaugurated the company “COSCO shipping Financial Holdings Limited (COSCO shipping Financial) in Hong Kong. It was former China Shipping (Hong Kong) Holdings, reports Sinocast.
United Arab Shipping Co (UASC) is considering the sale of its stake in United Arab Chemical Carriers (UACC) for oil and petrochemicals as part of its plans to merge with German container line Hapag-Lloyd, says Bloomberg.