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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


SFL Sells 18-year-old VLCC

Front Century (Photo: SFL)

Ship Finance International Limited (SFL) has agreed to sell the 1998 built VLCC Front Century to an unrelated third party, and has simultaneously agreed to terminate the corresponding charter party for the 18-year old crude oil carrier with a subsidiary of Frontline Ltd.


Navigator Reports Profits for Q3

Photo: Navigator Holdings Ltd

 Navigator Holdings Ltd. (NVGS) has reported third-quarter ended September 30, 2016profit of $6.5 million, with earnings per share of $0.12.   The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7


Royal IHC Signs Contract with Shanghai Salvage

550t Reel Lay system for Shanghai Salvage (Photo: Royal IHC)

Royal IHC has announced they have signed a contract with Shanghai Salvage in China for the supply of an integrated 550t Reel lay system. This will be the first Reel lay system in the Chinese market and will be one of the largest and most sophisticated Reel lay systems worldwide.


Diana Shipping Gets Charters Two Bulkers

New Orleans. Photo: Diana Shipping

 Greek dry bulk shipping company Diana Shipping has entered into time charter contracts for its two vessels, the M/V Orleans and the M/V Melite, which are scheduled to start in December 2016.   "Diana Shipping, through a separate wholly-owned subsidiary


Ingalls Wins USS Ramage Overhaul Contract

Ingalls Shipbuilding has been awarded a $14 million base contract to perform overhaul work on the Arleigh Burke-class destroyer USS Ramage (DDG 61). USS Ramage was originally built at Ingalls Shipbuilding and delivered to the U.S. Navy in 1995. Photo by HII

Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division has been awarded a $14 million base contract to perform an extended selected restricted availability on the Arleigh Burke-class (DDG 51) destroyer USS Ramage (DDG 61). With all options exercised


MacGregor Bags 7 Middle East OSV Contracts

The Shark Jaw Photo MacGregor

MacGregor, part of Cargotec, has won comprehensive equipment package contracts for a variety of seven specialist support vessels that will operate in the Middle East region. MacGregor will deliver deck cranes and a range of deck machinery to each vessel


Cosco wins Abu Dhabi Container Terminal Concession

Abu Dhabi Ports has awarded China's Cosco Shipping a 35-year concession to build and operate a new container terminal at Khalifa Port, the chief executive of the Abu Dhabi company told Reuters on Wednesday. The terminal is expected to be operational in the first quarter of 2018


Hajioannou Takes on Safe Bulkers Newbuilds

Courtesy Safebulkers

Safe Bulkers, Inc. announced today that the Company has agreed to novate an existing newbuild contract for Hull No. S835, a Japanese Panamax class vessel, and sell, upon delivery, Hull No. 1551, a Japanese Kamsarmax class vessel, in each case, to entities owned by Mr


Kalmar Bags Gulftainer Order

Kalmar T2 terminal tractor Photo Cargotec

Kalmar signed an agreement with Gulftainer Lebanon SAL to supply six Kalmar T2 terminal tractors and one Kalmar DCF80-45E7 empty container handler. The order was booked in Cargotec's 2016 third quarter order intake and the first delivery will take place in October 2016


Euronav Pushes Delivery of Two VLCCs at HHI

Photo Euronav

Euronav NV announces today that it has agreed with Hyundai Heavy Industries (“HHI”) shipyard in South Korea to defer the delivery of the two VLCC ex-yard resale vessels it recently purchased to the first quarter of 2017. Thanks to the excellent relationship that the Company enjoys


Euronav Defers VLCC Resale Deliveries into 2017

Euronav NV said it has agreed with Hyundai Heavy Industries (HHI) shipyard in South Korea to defer the delivery of the two VLCC ex-yard resale vessels it recently purchased to the first quarter of 2017.      The vessels, previously expected to be delivered between October and


South Carolina Ports Report Cargo Growth

Photo courtesy of SCPA

South Carolina Ports Authority reported year-over-year growth during the first quarter of its 2017 fiscal year.   SCPA handled 162,858 twenty-foot equivalent units (TEUs) in September. First quarter TEU volumes were up 1.4 percent over the same period last year, with 520


Costamare Defers Newbuild Vessel Delivery

Photo: Costamare Inc.

 Athens-based containership owner Costamare Inc. pushes back 11,000-teu newbuildings into 2017 as it reports strong third quarter figures which topped Wall Street expectations.   It has agreed to postpone the deliveries of the remaining four newbuilding 11,010 TEU containerships


Diana Shipping Abandons Kamsarmax Order

Courtesy Diana Shipping

 Diana Shipping Inc.  today announced that, through a wholly-owned subsidiary, it provided a notice of cancellation of the shipbuilding contract with Yangzhou Dayang Shipbuilding Co., Ltd. and Shanghai Sinopacific International Trade Co., Ltd


Ulstein Enters the Yacht Market

Photo: Ulstein Verft

The Ulstein Group has secured an order to build its first vessel within the yacht segment: Ulstein Verft has signed a contract to build a yacht for a private owner, one of the world’s biggest ship owners.    "The customer wants the characteristic X-BOW from ULSTEIN






 
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