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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


Höegh LNG - LNG Libra sold

LNG carrier LNG Libra

  Höegh LNG Holdings Ltd. has sold the LNG carrier LNG Libra (built 1979) to a Chinese energy company for around USD 20 million. The Company has received 15% of the purchase price and will receive the remaining 85% by the end of the first quarter 2016


Eurostar Breaks Passenger Growth Record, Despite Calais Strike

Photo: Eurostar International Limited

 Channel Tunnel rail operator Eurostar has reported record quarterly passenger numbers despite the disruption caused by strikes in Calais.   Around 2.8 million passengers travelled on the high-speed service in the second quarter of this year, an increase of 3 per cent on last year.


Magnolia Inks deal with Meridian

Magnolia Meridian-LNG deal

  Liquefied Natural Gas Ltd informed that its 100% owned project company, Magnolia LNG, LLC signed a legally binding agreement with Meridian LNG Holdings Corp for firm capacity rights for up to 2 million tonnes per annum (mtpa) at Magnolia LNG


Statoil 2Q 2015 Earnings Slip

CEO of Statoil ASA, Eldar Sætre

  Statoil delivered Adjusted earnings of NOK 22.4 billion and adjusted earnings after tax of NOK 7.2 billion in the second quarter. Statoil reported Net income in accordance with IFRS of NOK 10.1 billion, including gains from divestments.


Teekay, BP Enter Deal for Newbuild LNG Tankers

Teekay LNG signs charter contracts with BP for up to two LNG carrier newbuilds   Teekay LNG Partners L.P. announced that it has entered into a 13-year time-charter contract with BP Shipping Limited (BP) for one liquefied natural gas (LNG) carrier newbuilding


Ship Finance Buys Three Boxships

Pic: Ship Finance International Limited

 Ship Finance International Limited has acquired three 9,000 teu capacity container ships that are under construction from an unrelated third party.   The Fredriksen-led company said that the three vessels are currently being constructed to a fuel-efficient design at an undisclosed yard


EMGS Implements Further Cost Reductions

Resistivity attributes and seismic integration from discoveries

  Electromagnetic Geoservices ASA (EMGS) announce that the Company implements further cost reductions reflecting the challenging market conditions in the oil service industry.   As communicated in the first quarter report, the Company initiated cost reduction measures in the beginning


Maritime Piracy: Distinguishing Piracy vs. Robbery

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It is important to distinguish between armed robbery and piracy when reporting incidents in South East Asia waters says the Singapore Shipping Association (SSA) which has commissioned a study to determine the scale of threat posed to seafarers in the area.


Transocean Delays Drillships

Image: Transocean Ltd

 Transocean Ltd, the world’s largest offshore driller, has delayed delivery of two new ultra-deepwater drillships, the company announced.   The company amended its drillship construction contracts ($540 million each) with Jurong Shipyard, a subsidiary of Sembcorp Marine


Globus Maritime Reports Q1 Loss

Image: Globus Maritime Limited

 Greece-based dry bulk shiping company, Globus Maritime has been pushed back into the black by miserable dry bulk rates, but the company has said that it is awaiting market improvements within 2015.    George Karageorgiou, President


Stolt-Nielsen's Results Show Bright Future

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  Stolt-Nielsen Limited today reported unaudited results for the second quarter ended May 31, 2015. Net profit attributable to shareholders in the second quarter was $42.5 million, with revenue of $500.7 million, compared with a net profit of $38.7 million, with revenue of $487


Container Shipping Lucky to Break Even in 2015

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A toxic mixture of overcapacity, weak demand and aggressive commercial pricing is threatening liner shipping industry profitability for the rest of 2015, according to the Container Forecaster report published by global shipping consultancy Drewry.


Container Ship Industry ‘Lucky to Break Even' in 2015,

Image: Maersk Line

 Global shipping consultancy Drewry predicts the container ship industry will be "lucky to break even this year" as shipping rates slump due to catastrophic overcapacity.   A toxic mixture of overcapacity, weak demand and aggressive commercial pricing is threatening liner


Kværner Reports Robust Performance

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  Growing order intake and activity level in a challenging market. Kvaerner's order intake in the second quarter was NOK 5 674 million, an increase from NOK 5 360 million in the same quarter last year. The company has also continued the high activity level with revenues for the quarter of


Shell Sells Elba Liquefaction Project Interest to Kinder Morgan

Image:  Kinder Morgan

 Kinder Morgan Inc. will buy out Royal Dutch Shell PLC’s interest in their proposed Elba Liquefaction Co. (ELC ) joint venture in Georgia.   Houston-based Kinder Morgan already owns 51% of the ELC joint venture. The firm said it would buy the 49 percent stake that it does not






 
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