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Commodore Holdings Reports 14% Earnings Increase

Commodore Holdings, Ltd. reported a 14 percent increase in earnings for its fiscal year ending Sept. 30, 1999. Earnings for full year 1999 were $4,606,000, as compared to $4,023,170 in full year 1998. The line went public in July of 1996. Earnings per share for full year 1999 are $.62 per share on a basic basis, and $.52 per share on a diluted basis. This compares to $.64 per share basic and $.54 per share diluted in full year 1998. The company's weighted average number of common stock outstanding - diluted - was 9,292,000 for full year 1999 as compared to 7,923,000 for full year 1998. This increase was primarily due to the higher average stock price for the company's common stock in full year 1999, which is used in calculating common stock equivalents, as well as the exercise of warrants in full year 1999.


Aegean Profitable in 2013 Despite Bunker Market Challenges

Bunkering: File photo CCL

Ship bunker suppliers Aegean Marine Petroleum Network release financial and operating results for the fourth quarter ended December 31st, 2013, registering a third consecutive profitable year. Quarterly & full year highlights Recorded sales volumes of 2,384,376 metric tons in Q4 2013 and 9,941,061 for the full year. Recorded gross profit of $75.0 million in Q4 2013 and $286.0 million for the full year.


Diamond Offshore Reports 4Q Results

Deepwater drilling company Diamond Offshore announced fourth quarter and full-year earnings. Results were solid, with revenues and earnings showing big increases on both a quarterly and an annual basis. Compared to the fourth quarter of 2005, revenues rose 57 percent and earnings per share rose 106 percent. Full year figures demonstrated similarly gaudy growth, as revenues rose 68 percent and earnings per share were up an astronomical 168 percent.


Wärtsilä Posts 1Q Loss, But Outlook For Year Good

Wärtsilä posted a first-quarter loss, hit by restructuring charges, but said it expected full-year results at its key power divisions to reach last year's level. Wärtsilä reported a January-March loss before extraordinary items of $3.92 million versus a profit a year ago. The result sent Wärtsilä's shares 5.2 percent lower to 23.60 euros in thin opening trade on a flat Helsinki bourse. The stock is eight percent below its year high of 25.65 euros


Carnival Reports Profit Slide in Q1 2014, Outlook Gloomy

Image courtesy of Carnival Corp.

Cruise line group Carnival Corporation announced non-GAAP net income of $2 million, or $0.00 diluted EPS for the first quarter of 2014 compared to non-GAAP net income for the first quarter of 2013 of $67 million, or $0.08 diluted EPS. Key metrics for the first quarter 2014 compared to first quarter 2013 and December guidance were as follows: On a constant dollar basis, net revenue yields (net revenue per available lower berth day or “ALBD”) decreased 2


CP Ships Reports 4Q Results

CP Ships Limited today announced unaudited fourth quarter 2003 operating income of US $49 million, up from $34 million before exceptional items in fourth quarter 2002 and up from $44 million in third quarter 2003. Basic earnings per share was $0.46 compared with 2002's $0.23 before exceptional items and third quarter's $0.37. Net income available to common shareholders was $41 million, compared to $23 million in fourth quarter 2002.


Carnival Corp Reports 4Q & Full Year Earnings

Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) reported net income of $371m, or $0.47 diluted EPS, on revenues of $3.3b for its fourth quarter ended November 30, 2008. Net income for the fourth quarter of 2007 was $358m, or $0.44 diluted EPS, on revenues of $3.1b. Included in the 2008 fourth quarter results is a gain of $31m on the sale of Cunard Line's Queen Elizabeth 2. The company reported net income for the full year ended November 30, 2008 of $2.3b, or $2


Manitowoc Reports Fourth-Quarter and Full-Year Results

The Manitowoc Company, Inc. has reported record sales, cash from operations, and net debt reduction for the full year 2003. For the fourth quarter, the company reported net sales of $395.9 million, increasing from $386.0 million during the same period last year. Including special charges, the company reported a net loss of $5.5 million, or $0.21 per diluted share for the quarter, compared with a net loss of $25.1 million, or $0.94 per diluted share, in


EURONAV Q4 2010 Results

The executive committee of Euronav NV (NYSE EURONEXT BRUSSELS: EURN) reported its preliminary non-audited financial results for the fourth quarter and full year 2010. The company had a net result of USD -17.6 million (fourth quarter 2009: USD -23.6 million) for the three months ended 31st December 2010 or USD -0.35 per share (fourth quarter 2009: USD -0.47 per share). EBITDA was USD 34.5 million (fourth quarter 2009: USD 34.3 million).


Tognum Reaches 2012 Profit Target

Specialist for propulsion and power solutions, Tognum AG, has achieved its revenue and profit targets for the full year 2012. Revenues increased slightly last year by 1.4% as expected to €3.015 billion (2011: €2.97 billion). With an adjusted EBIT of €296 million, the adjusted EBIT margin was at 9.8% (2011: 11.6%). In August of last year, Tognum specified its forecast for the full year 2012. The company subsequently announced that it anticipated growth in revenues in the


ISC Expects Faltering Q1 2014 Financial Results

ISC Jones Act vessel: Photo courtesy of ISC

International Shipholding Corporation (ISC) provides preliminary guidance for first quarter 2014 results and announces timing of earnings release and conference call. The company says that it expects to report a first quarter net loss, before Preferred Dividends, in the range of $3


Transocean 2013 Success Story: Dividend Up 34%

Frontispiece courtesy of Transocean

In a letter to shareholders chairman, Ian C. Strachan and Steven L. Newman, president and CEO, set out a summary of offshore drilling specialist Transocean's 2013 operations, excerpted as follows: • Revenue and Backlog Full year 2013 net income attributable to controlling interest was $1


Wilh.Willhelmsen Holdings Report 2013 Profit Slide

Image courtesy of WWH

The Directors' report 2013 (extracted here) states that shipowners & technical services firm Wilh. Wilhelmsen Holding group (WWH) delivered lower results for 2013 when compared with a very strong 2012. The fallback in results was due to a 7% reduction in shipping volumes and substantial sales


Topaz Revenue up 22%

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Topaz Energy and Marine, a offshore support vessel company, announced the results of its subsidiary Nico Middle East Ltd. for the 12 months ended December 31, 2013. The period has seen continued strong and profitable growth across the group’s activities with revenues up 22% and EBITDA up 17%


Navigator Holdings Run a Tight Ship, Report 2013 Profit Surge

Gas carrier: Photo courtesy of Navigator Holdings

In its preliminary fourth quarter and financial year 2013 results, ship owners and charterers Navigator Holdings report that EBITDA increased to $106.8 million for the year ended December 31, 2013 from $63.9 million for 2012. HIghlights


Bourbon's Revenues up in 2013

Net Income Group share up 174% to €115 million. Increased operating margin1 and capital gains generated €575.7 million EBITDA, up 41.7% compared to 2012.   EBITDAR2 (excluding capital gains) reached €450.3 million (+17.6%), an increase of 2.1 pts to 34


Danish shipping fuel supplier OW Bunker confirms IPO plan

Private equity co Altor plans to partly sell holding; OW Bunker FY net up almost 50 pct at $63.4 mln. Revenue up more than 20 pct at $16.99 billion. Danish ship fuel supplier OW Bunker plans an initial public offering (IPO) of shares in Copenhagen, it said on Wednesday


Creditors Allow FSL Trust More Breathing Space

FSL Shanghai: Photo credit the owners

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.


Huntington Ingalls Industries 2013 Revenues Increased

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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


Singapore Offshore Firm Rides Crest of 2013 Financial Wave

Else-Marie OSV: Photo CCL credit Marc Ryckaert

Singapore's Swiber Holdings, a construction and support services provider to the offshore oil and gas industry, reported that it has achieved record revenue and net profit for the second consecutive year-running for the full year ended December 31, 2013.


Yangzijiang Shipbuilding Eyes Mega Container Ships

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Reuters - Yangzijiang Shipbuilding Holdings Ltd, a top Chinese shipbuilder, plans to build more mega container ships for shipowners eager to cut operating costs. Yangzijiang is China's third-largest listed shipbuilder by market capitalisation and has boasted profit margins that dwarf those of


China Shipyard, Yangzijiang, Report Profit Dip in Q4 2013

Reuters –  Yangzijiang Shipbuilding Holding Ltd said its fourth-quarter net profit dropped 8 percent on the year, as income from shipbuilding decreased. Privately-controlled Yangzijiang is China's third-largest listed shipbuilder by market capitalisation


Oil Services Must Take on More Risk, Petrofac CEO Warns

Ayman Asfari:  Photo couresty of Petrofac

By Stephen Eisenhammer, Reuters Oil service companies will have to assume more risk in the coming years as investor pressure and a flat crude price make oil company clients push harder to avoid delays on megaprojects, the chief executive of FTSE 100 contractor Petrofac said.


Mermaid Marine to Buy Jaya Offshore Businesses

Reutrs - Australian marine logistics firm Mermaid Marine Australia Ltd. said on Tuesday it had agreed to buy the offshore businesses of Singapore's Jaya Holdings Ltd. for $495.96 million in cash to expand its international portfolio. Mermaid Marine


Qatar's Nakilat Q4 Profit Falls 13%

Photo: Nakilat

Reuters - Qatar Gas Transport Co (Nakilat), one of the world's largest shippers of liquefied natural gas, posted a 13 percent drop in fourth-quarter net profit on Tuesday. The company made a fourth-quarter profit of 176.5 million Qatar riyals ($48.5 million), down from 203


 
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