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Fourth Quarter

Transocean Reports 4Q & FY 2011 Results

Transocean Ltd. reported a net loss attributable to controlling interest of $6.119 billion, or $18.62 per diluted share, for the three months ended December 31, 2011. The results compare to a net loss attributable to controlling interest of $799 million, or $2.51 per diluted share, for the three months ended December 31, 2010.   • Revenues improved eight percent in the fourth quarter to $2.422 billion compared to $2.242 billion in the third quarter 2011,   • Fourth quarter 2011 net loss attributable to controlling interest was $6.119 billion, which included $ 6.176 billion of certain net unfavorable items including an estimated goodwill impairment of $5.2 billion and an estimated loss contingency of $1.0 billion associated with the Macondo Well incident, compared to a net loss attributable to controlling interest of $71 million in the third quarter 2011, which included $81 million of certain net unfavorable items,   • Revenue efficiency(1) was 91.9 percent in the fourth quarter, up from 89.5 percent in the third quarter 2011,   • Fleet utilization(2) was 61 percent in the fourth quarter, up from 58 percent in the third quarter 2011,   • Excluding $1.0 billion for estimated loss contingencies associated with the Macondo Well incident, fourth quarter 2011 operating and maintenance expenses were $1.565 billion, up from $1.540 billion in the third quarter 2011,  

Horizon Lines Post 4Q 2014 Results

The story of Horizon Lines is really the story of containerized shipping in America

Horizon Lines, Inc. today reported financial results for the fiscal fourth quarter ended December 21, 2014. "Horizon Lines' fourth-quarter adjusted EBITDA increased 26.6% over the same period a year ago. The improvement in adjusted EBITDA was driven largely by higher fuel recovery, lower transit and replacement vessel costs associated with dry-docking of our vessels and increased space charter revenue," said Steve Rubin, President and Chief Executive Officer

Houston Exploration Reports 2006 Results

The Houston Exploration Company reported full-year 2006 net income of $67.8 million, or $2.36 per diluted share. This compares with net income of $105.2 million, or $3.62 per diluted share, reported in 2005. Excluding certain items described below and in the attached schedules, the company's adjusted net income for 2006 was $93.0 million, or $3.24 per diluted share, versus $3.76 per diluted share in 2005 on a comparable basis

Carnival's Shares Plummet 40 Percent

Carnival Corporation reported net income of $116.3 million ($0.20 Diluted EPS) on revenues of $959.1 million for its fourth quarter ended November 30, 2001, compared to net income of $193.8 million ($0.33 Diluted EPS) on revenues of $850.3 million for the same quarter in 2000. Net income for the year ended November 30, 2001, was $926.2 million ($1.58 Diluted EPS) on revenues of $4.54 billion, compared to net income of $965.5 million ($1.60 Diluted EPS) on revenues of $3

Kværner ASA : Q4 & Preliminary 2012 Results

Kværner reported operating revenues of NOK 2 930 million in the fourth quarter 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 119 million, resulting in an EBITDA margin of 4.1 percent. The order backlog amounted to NOK 21 262 million.   "The record high order backlog provides a good foundation for the activity level over the next years. Furthermore, it provides us with a strong basis to optimise our execution and improve our

Huntington Ingalls Industries 2013 Revenues Increased

HII logo

Huntington Ingalls Industries reports Fourth Quarter & Year 2013 financial results with increased revenues in each period. Highlights are as follows:     •    Revenues were $1.94 billion for the fourth quarter and $6.82 billion for 2013     •    Segment operating margin was 8.7 percent for the fourth quarter and 8.3 percent for the full year     •    Total operating margin was 9

Royal Caribbean Q3 Results

Royal Caribbean Cruises Ltd. (NYSE:RCL) announced earnings for the third quarter of 2009 and provided guidance for the fourth quarter and full year. Key Highlights •    Third quarter 2009 net income was $230.4 million, or $1.07 per share, compared to net income of $411.9 million, or $1.92 per share in 2008. •    The results were better than the company's most recent guidance of $0.95 to $1

Superior Energy Services Q1 2010 Results

Superior Energy Services, Inc. (NYSE:SPN) announced net income of $21.5 million and diluted earnings per share of $0.27 on revenue of $364.5 million for the first quarter of 2010, as compared with net income of $56.8 million, or $0.72 diluted earnings per share on revenue of $437.1 million for the first quarter of 2009. Terence Hall, Chairman and CEO of Superior, commented, "While our earnings are below year-ago levels

Yara Reports Lower Q4 Results

Yara International ASA delivered lower fourth-quarter results, with weak commodity margins but robust value-added premiums and strong deliveries. Yara's board will propose to the Annual General Meeting a dividend payment of NOK 10 per share for 2013. "Yara's fourth-quarter results reflect weaker commodity fertilizer markets," said Jørgen Ole Haslestad, President and Chief Executive Officer in Yara.

Diana Containerships Post Q4 2013 Loss But Pays Dividend

Image courtesy of Diana Containerships

Greece-based container ship owners, Diana Containerships Inc. in financial results for the Fourth Quarter and Year Ended December 31, 2013 report a net loss of $19.8 million for the fourth quarter of 2013, compared to net income of $0.3 million for the respective period of 2012. The Company explains that the loss for the fourth quarter was mainly the result of $9.7 million of impairment charges for the vessel Sardonyx

Dredging Contract Awarded for Corpus Christi LNG Terminal

U.S. dredging services provider Great Lakes Dredge & Dock Corporation announced it was awarded a contract for work on an export terminal under the development of Corpus Christi Liquefaction, LLC (CCL).   CCL, a subsidiary of Cheniere Energy, Inc

East-West Shippers' Contract Rates Falling -Drewry

Ocean freight rates for cargo moving under contracts on the major East-West routes have seen a sharp reduction since the beginning of the year, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight

Stolt-Nielsen's Q3 Numbers Disappoint

Shipping firm Stolt-Nielsen reported third-quarter earnings below forecast on Thursday and said it remained worried by the expected influx of new product tankers in 2016 and 2017. Stolt-Nielsen's June-August operating profit rose to $59.8 million from $45

AEP to Sell AEP River Ops To ACL

An AEP river tow (File image)

American Electric Power (AEP) has signed an agreement to sell its commercial barge transportation subsidiary, AEP River Operations LLC, to American Commercial Lines (ACL), owned by Platinum Equity, for approximately $550 million. AEP River Operations is a commercial inland barge company

Hercules Offshore Expects to Emerge from Bankruptcy in Q4

Photo: Hercules Offshore

Rig provider Hercules Offshore Inc said on Thursday that it expects to file for Chapter 11 protection next month and emerge with a restructured balance sheet in the fourth quarter.   The company said last month that it had entered into a restructuring agreement with a majority of its

Vard to Build Stern Trawler for Canadian Client

Image: Vard

Vard Holdings Limited has secured a contract worth approximately NOK 350 million for the construction of one stern trawler for a new Canadian client.    The ice-classed vessel will be 79 meters long, 16.6 meters wide and is of Rolls-Royce NVC 374 design

NASSCO Invests in Facilities, Equipment and People

5-14-15 Yard at night 1280 WEB.jpg

General Dynamics NASSCO has invested several hundred million in capital projects as part of its efforts to increase efficiencies via  modular shipbuilding, including: two 300-ton cranes allowing shipbuilders the ability to increase the size of the erectable blocks; a block assembly line to

Dorian Acquires 2 ECO VLGC

Courtesy Dorian LPG

  Dorian LPG, an owner and operator of modern Very Large Gas Carriers ("VLGCs"), reported today that it has taken delivery of the ECO VLGC Commodore from Hyundai Samho Heavy Industries and the ECO VLGC Cresques from Daewoo Shipbuilding and Marine Engineering ("DSME")

Asia Tankers-VLCC Rates Will See More Volatility

file image: A Suez Max Tanker in the Suez Canal.

VLCC market to be "hot" in Q4 -VLCC broker. Freight rates for very large crude carriers (VLCCs) face a roller-coaster ride on uncertain cargo volumes and vessel supply ahead of a fourth-quarter boom, brokers said. Charter rates, which have rebounded sharply

DryShips to Sell 17 Vessels for a Huge Loss

Photo DryShips Inc

  DryShips Inc. a global provider of marine transportation services for drybulk cargoes, and through its affiliate, Ocean Rig UDW Inc., of off-shore contract drilling oil services, announced today that it has entered into firm sales agreements with entities controlled by the Company’s

Concordia Maritime Renews P-MAX Vessels Contract

Stena Polaris (Photo: Concordia Maritime)

International tanker shipping company Concordia Maritime said it has renewed a contract with an international oil and gas company for 12 months for two vessels. The contract also includes an additional vessel for six months. The renewed contract relates to three P-MAX vessels: 2005-built Stena

Seadrill Cancels West Mira Construction Contract

Offshore drilling company Seadrill Limited said it has exercised its right to cancel the contract for the construction of the West Mira drilling unit following builder Hyundai Heavy Industries Co Ltd.’s inability to complete the project on deadline.  

Polarcus Awarded Broadband 3D Project in West Africa

Polarcus Limited has received a letter of intent from an undisclosed client to execute a 3D marine seismic project in West Africa utilizing Polarcus' RightBAND technique for broadband data acquisition, the company announced in a press release today.  

US Oil Drillers Cut Rigs for Third Week on Weak Crude Prices

U.S. energy firms cut oil rigs for a third week in a row this week, data showed on Friday, a sign the latest crude price weakness was causing drillers to put on hold plans announced several months ago to return to the well pad.   Drillers removed 8 rigs in the week ended Sept

Viking Lays up 3 PSVs

A preferred partner within the harsh environment offshore market

  Due to a continued weak PSV market, Viking Supply Ships A/S has decided to lay up the PSV vessels Idun Viking, Frigg Viking and Nanna Viking. The vessels’ crew is provided by an external ship manager and the decision will consequently not have any impact for crew employed in

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