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Full Year

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.


Matson to Announce Q4, 2014 Results

Matthew Cox

Matson, Inc. will release its financial results for the Fourth Quarter and Full Year 2014 on Tuesday, February 24, 2015. Matthew Cox, President and Chief Executive Officer, and Joel Wine, Senior Vice President and Chief Financial Officer, will discuss Matson's fourth quarter and full year 2014 results and provide a business outlook for 2015 during a conference call scheduled for 4:30 p.m. EST/1:30 p.m. PST/11:30 a.m. HST.


NOL Nets 4Q US$77 mln loss

Image: Courtesy NOL

NOL Group today reported a 4Q 2015 net loss of US$77 million, an improvement of US$8 million over 4Q 2014. The Group posted a Core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss of US$65 million in the quarter. Its Core EBITDA remained positive at US$39 million.   On a full year basis, NOL posted a net profit of US$707 million. Excluding a one-time US$888 million gain on the sale of its logistics unit, NOL incurred a full year net loss of US$181 million


Inmarsat Returns to Revenue Growth in Q2

British satellite operator Inmarsat reported a rise in revenue in the second quarter, more than reversing a dip in the first quarter, as its customers used its broadband terminals to improve efficiency in tough shipping and energy markets. The company reported a 6 percent rise in second-quarter revenue to $330.4 million and a 22 percent rise in core earnings to $202.2 million on Thursday, and reiterated its target for full-year revenue.


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


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 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


Hyundai Heavy Back in the Black

Photo: Hyundai Heavy Industries

 The South Korean shipbuilder Hyundai Heavy Industries (HHI) has reported a net profit of KRW 682.3 billion (USD 596.6 million) for the full year of 2016, returning from a loss of KRW 1.36 trillion (USD 1.18 billion) seen in the full year 2015.   Operating profit for 2016 totaled 1.64 trillion won, up from a loss of 1.54 trillion won for 2015.    HHI also announced consolidated 4Q 2016 results. During the October-December period of 2016 HHI racked up 10


CMA CGM Returns to Net Profit in Q4

File photo: CMA CGM

CMA CGM, the world's third-largest container line, swung back to a net profit in the fourth quarter of last year, supported by a recovery in freight rates and efficiency measures taken during a prolonged downturn in shipping, the company said.  


Bulkcarrier Fleet Growth In Limbo?

Graph: Clarksons Research

 The pace of bulkcarrier fleet growth has fallen sharply since 2010, when the fleet grew by a record 17%, says a Clarksons Research report.   In 2016, the supply side response to difficult market conditions saw the bulker fleet grow at the slowest pace so far this century


Market Volatility Affects Sovcomflot

Tanker SCF Baltica. Photo:  PAO Sovcomflot

 Russia’s largest shipping company PAO Sovcomflot (SCF Group) has announced its results for the full year to 31 December 2016 that the compay claims to be an example of 'robust strategy delivering solid results despite market volatility in 2016.'  


DP World’s Net Income Exceed USD 1 Bln for First Time

DP World London Gateway. Photo: DP World

 Dubai-based port and terminal operator DP World announced strong financial results from its global portfolio for the twelve months ending 31 December 2016, despite “significant challenges” in the industry.   On a reported basis, revenue grew 4


SBM Offshore Raises Dividend

Photo: SBM Offshore

Dutch oil-ship lessor SBM Offshore's full-year core profit (EBITDA) jumped 67 percent, driven by growth in its Lease and Operate business, the company said on Wednesday.   SBM, which has been seeking a settlement after being accused of paying bribes to executives of state-controlled oil


Navios Maritime sells MSC Cristina to Repay $100 mln Debt

Image:  Navios Maritime Partners L.P.

 In January 2017, following the completion of the sale of the MSC Cristina, Navios Maritime Partners repaid approximately $100 million of bank debt.    Proforma for these repayments, net debt/book capitalization for December 31, 2016, has decreased to 36.5%


Euroseas Reports Q4 Loss

Pic: Euroseas Ltd

 Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, reported a total net revenues of $7.3 million for the three month period ended December 31, 2016.  


Odfjell Returns to Profit

Photo: Odfjell SE

Odfjell SE today reported preliminary full year and Q4 2016 results, showing improvement in financial performance in 2016 in spite of challenging markets. Efficiency programs continue to increase competitiveness, and the balance sheet is substantially strengthened.


Tanker Market Facing Test

Graph: Clarksons Research

 The tanker market has certainly had some tumultuous times of late, points out a report by Clarksons Research.   Crude tanker earnings picked up in 2014, averaging nearly $27,000/day, and surged to an annual average of around $50,000/day in 2015.   


Higher profits for Transocean

Courtesy Transocean

Transocean Ltd. reported their Fourth Quarter and Full Year 2016 Results.  * Revenues were $974 million, up from $906 million in the third quarter of 2016  * Operating and maintenance expense was $314 million, including $30 million in favorable items associated with litigation matters


ClarkSea Index: Shipping Markets Under Severe Pressure

Graph: Clarksons Research

 With the ClarkSea Index around $9,000/day, and many if not most of the major shipping markets under severe pressure, it’s hard to escape the conclusion that the shipping markets are a tough place right now, with limited pickings to share between owners.   


MOL Group Posts Almost USD 1 Billion Profit in 2016

INA Offshore platform. Photo: MOL Group

 MOL Group significantly outperformed its initial USD 2bn target for 2016 and delivered a clean  EBITDA of USD 2.15bn, which is only moderately down compared with the previous year.  Upstream has shown great resilience to the deteriorating external environment


Seadrill Could Be Heading for Bankruptcy

Photo: Seadrill Limited

The oil rig owner SeaDrill could be forced into bankruptcy protection soon, if it fails to reach a restructuring agreement with its lenders, reports Reuters.   The rig firm, controlled by John Fredriksen, is battling with $14 billion in debt and liabilities.  


Genco Shipping Reports 4Q Loss

Image:  Genco Shipping & Trading Limited

 Genco Shipping and Trading (GNK) has reported a loss of $24.5 million in its fourth quarter of 2016.    The transporter of drybulk cargo said that its basic and diluted loss per share is $3.35. It had posted revenue of $43.9 million in the period.  


Battles and Building Blocks in Liner Market

Table: Clarksons Research

 Clarksons Research has released 2016 liner market review. After another year of extremely difficult market conditions, many would forgive liner sector players for an air of resignation.    However, despite a challenging freight market






 
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