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First Quarter

Halliburton Announces 1Q Results

Halliburton announced that net income in the first quarter of 2006 was $488m, or $0.91 per diluted share, compared to net income of $365m, or $0.72 per diluted share, in the first quarter of 2005. Net income in the first quarter of 2006 included income from discontinued operations of $7m after tax, or $0.01 per diluted share, primarily related to the operations of KBR's Production Services group, which is expected to be sold in the second quarter of 2006 with a pretax gain of approximately $100m. Net income in the first quarter of 2005 also included income from discontinued operations of $6m after tax, or $0.01 per diluted share. Income from continuing operations in the first quarter of 2006 was $481m, or $0.90 per diluted share, compared to income from continuing operations of $359m, or $0.71 per diluted share, in the first quarter of 2005. Consolidated revenue in the first quarter of 2006 was $5.2bcompared to $4.8b in the first quarter of 2005. This increase was largely attributable to higher activity in the Energy Services Group (ESG), where revenue increased 35% from the prior year first quarter to a record level of $2.9 billion. Lower revenue in KBR, primarily on government services projects in the Middle East, partially offset this increase. Consolidated operating income was $755m in the first quarter of 2006 compared to $575m in the first quarter of 2005, a 31% increase


Golar LNG Q1 Results 2011

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Highlights Golar LNG reports consolidated net income of $16.3 million and consolidated operating income of $20.4 million for the first quarter of 2011 Golar LNG announces a cash dividend of $0.25 cents per share Significant improvement in charter rates during the quarter Golar secures charters for its 4 modern vessels of between 12 and 18 months. The contracts are expected to generate approximately $80 million of EBITDA on an


Northrop Grumman Reports First Quarter Results

Northrop Grumman Corporation, reported that sales increased 49 percent, earnings from continuing operations increased 17 percent, and segment operating margin increased 44 percent, for the 2003 first quarter compared with the first quarter of 2002. The record results, in large measure, reflect strong contributions by the company's two new segments, Mission Systems and Space Technology; double-digit growth in sales and operating margins at three other segments, Electronic Systems


Odfjells Announces Good 1Q Results

Odfjell's consolidated net result after tax was $34 million the first quarter 2004 compared to $18 million 1Q 2003. The first quarter 2004 figure includes capital gains on assets of $9 million. Time-charter results per day improved by 9 percent compared to first quarter 2003 and to the full year 2003. Increased voyage expenses reflect the increased number of ships in the fleet. Earnings before interest, taxes, depreciation and amortization (EBITDA) for first quarter 2004 were $53 million


Safe Bulkers Reports $44.2 Million Revenue, 1Q13 Results

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced its unaudited financial results for the quarter ended March 31, 2013. The Company’s Board of Directors also declared a quarterly dividend of $0.05 per share for the first quarter of 2013. Summary of First Quarter 2013 Results Net revenue for the first quarter of 2013 remained almost unchanged at $44.2 million from $44.1 million during the same period in 2012.


Kirby Announce Record Earnings in Q1 2014

Image courtesy of Kirby Corp.

US tank barge operator and diesel engine service providers, Kirby Corporation, inform that earnings for the first quarter ending March 31, 2014 amounted to $62.2 million, or $1.09 per share, compared with $56.6 million, or $1.00 per share, for the 2013 first quarter.  Consolidated revenues for the 2014 first quarter were $589.2 million compared with $558.8 million reported for the 2013 first quarter. Excerpts from the financial report follow:


Todd Shipyards Releases First Quarter Results

Todd Shipyards Corporation announced financial results for the first quarter ending June 30, 2002. For the quarter, the company reported net income of $2.3 million or $0.41 per diluted share on revenue of $49.3 million. For the prior year first quarter ending July 1, 2001, the company reported net income of $1.8 million on revenue of $31.2 million. Per share calculations for the first quarter ended June 30, 2002 were impacted favorably by the company’s Dutch Auction share repurchase of 4


Trico Marine Reports First Quarter 2002 Results

Trico Marine Services, Inc. has reported a net loss for the quarter ended March 31, 2002, of $4.8 million, or $(0.13) per share (diluted), on revenues of $32.1 million, compared to net income of $2.0 million, or $0.05 per share (diluted), on revenues of $43.3 million for the first quarter of 2001. The decrease in revenues for the first quarter of 2002 resulted from lower average day rates and utilization for some of the Company's vessel classes, particularly the Gulf of Mexico supply boats


Euroseas Reports Results for Q1

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Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period ended March 31, 2011. First Quarter 2011 Highlights: -Net loss of $0.6 million or $0.02 loss per share basic and diluted on total net revenues of $14.2 million. Excluding the effect of unrealized gain and realized losses on derivatives


Hong Kong Cargo Throughput Up in Q1 2012

Hong Kong Port cargo throughput increased by 3% over a year earlier to 64.5 million tonnes, while outward  cargo volume increased 7% in Q1 2012 The HK Census and Statistics Department (C&SD) has released statistics on vessels, port cargo and containers for the first quarter of 2012.
 In the first quarter of 2012, total port cargo throughput increased by 3% over a year earlier to 64.5 million tonnes.  Within this total, inward port cargo recorded virtually no change at 35


Zim Sinks to Red

Photo: ZIM Integrated Shipping Services Ltd

 Israeli ocean carrier ZIM Integrated Shipping Services Ltd. (ZIM) has sunk to the red in the first quarter of 2016 after staying in the black for almost a year.   ZIM swung to a $56 million net loss in the first quarter from a $12 million profit in the previous year and revenue was


Siem Renews Contract for Seven Reefers

Photo: Siem Shipping Inc

 Norwegian liner Siem Shipping Inc. has won a one-year contract renewal for a regular weekly service from Ecuador to St. Petersburg, Russia. The contract extension for the service covers seven reefer vessels.   The service, which employs seven vessel


Höegh LNG Turns to Profit in 1Q

PGN FSRU Lampung  Courtesy Hoegh

Höegh LNG returned to profit following a Profit after tax of USD 6.3 million for the first quarter of 2016, up from USD 4.0 million net loss in the fourth quarter 2015. The company’s EBITDA reached $26.6 million for the first quarter of 2016, up from $24


Asia-N.Europe Box Freight Rates Soar 37 pct

File Image: A containership alongside at the port of Hamburg. (credit port of Hamburg)

Freight rates for shipping containers from ports in Asia to Northern Europe jumped 37 percent to $720 per 20-foot container (TEU) in the week ending on Friday, a person with access to data from the Shanghai Containerized Freight Index told Reuters.


Container Equipment Prices Nosedive - Drewry

Container newbuilding prices (US$) Source Drewry Maritime Research

Prices for new dry freight containers declined to their lowest point since 2002 during first-quarter 2016 and are still going down, according to the latest edition of the Container Equipment Insight, published by global shipping consultancy Drewry.


Asia-N.Europe Box Rates Sag Almost 5 pct

File Image: a Maersk Container Vessel alongside engaged in cargo operations (Maersk)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 4.7 percent to $606 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.


Long Beach Port Shipments Decline

Courtesy Port of Long Beach

Following a solid first quarter, Port of Long Beach container cargo volumes decreased in April compared to the same month in 2015, after lower-than-expected consumer spending in recent months. The decline also reflects evolving vessel alliances that have shifted ship deployments.  


Hapag-Lloyd's Profit Streak Continues

Courtesy Hapag-Lloyd

EBITDA of EUR 123.4 million / EBIT of EUR 4.8 million / Transport volume up 2.1% / Sharp year-on-year decrease in freight rate / Further efficiency measures planned Hapag-Lloyd recorded a positive operating result in a very challenging first quarter of 2016


ExxonMobil Terminates Seadrill Contract

Photo: Seadrill Partners LLC

 Exxon Mobil terminates earlier the West Capella working in Nigeria in the Usan Field. John Fredriksen-backed drilling firm Seadrill Partners LLC has received a notice of termination from Exxon Mobil.    In accordance with the cancellation for convenience provisions in the West


Awilco LNG Reports Loss

Photo: Awilco LNG

 Oslo-based LNG shipping company, Awilco LNG, reported a first quarter freight income of US$8.9 million, down from $12.1 million in the same quarter the previous year.    The pure play LNG transportation provider  said that an oversupply of shipping in the carrier market


NordLB Eyes Full-Year Loss

German state-backed lender NordLB now expects to report a loss in 2016 after non-performing loans in shipping, where it is one of the world's top lenders, helped push it into the red in the first quarter. The results at NordLB, which previously said it expected an earnings decline this year but


CMA CGM Aims to Cut Costs by $1 Bln

Photo: CMA CGM

France's CMA CGM, the world's third-largest container shipping firm, reported a first-quarter net loss on Friday and targeted $1 billion in cost cuts to keep operating margins positive during the current market downturn.   Weak freight rates in the past year have left many lines operating


Pioneer Marine Sink Deeper into the Red

Photo Pioneer Marine Inc.

Pioneer Marine Inc. and its subsidiaries (OSLO-OTC: PNRM) ("Pioneer Marine," or the "Company") a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the first quarter ended March 31, 2016.


Euroseas Faces Headwinds, Reports Loss

Image courtesy of Euroseas

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period ended March 31, 2016. First Quarter 2016 Highlights:


CMA CGM Proceeds with NOL Takeover after China Okay

File Image: A CMA CGM boxship alongside during cargo operations (credit: Marad)

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China, the French group said. CMA CGM received on Wednesday confirmation of the deal's approval by the






 
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