Group Reports

Stolt-Nielsen Granted Conditional Amnesty for Investigations

The Stolt-Nielsen Transportation Group reported that it is cooperating with competition authorities in the European Union in connection with an investigation into possible collusive behavior in the intra-European inland barge industry. SNTG had previously reported that it is cooperating with competition authorities in the United States and the European Union in connection with investigations into possible collusive behavior in the parcel tanker industry. SNTG has been granted conditional amnesty from prosecution and fines for violation of U.S. antitrust laws by the Antitrust Division of the U.S. Department of Justice under its Corporate Leniency Program with respect to parcel tanker operations. SNTG also has been granted conditional immunity from imposition of fines by the European Commission with respect to deep-sea parcel tanker and intra-European inland barge operations. During the course of an internal investigation undertaken by SNTG, the company became aware of possible collusive behavior and notified the appropriate authorities. As a result, SNTG, its relevant affiliates and directors and employees, have been granted conditional amnesty from prosecution and fines, subject to the conditions of the amnesty programs, including continued cooperation.

Halter Marine Announces 3Q 99 Financial Results

Halter Marine Group, Inc. announced the company's financial results for the quarter ended December 31, 1998 were a loss of one million dollars, on revenue of $279.2 million. This compares to net income of $8.8 million, on revenue of $180.6 million in the third quarter of fiscal 1998. For the nine months ended December 31, 1998, the company reported net income of $11.8 million, on revenue of $759.8 million. For the comparable 1997 period, Halter Marine Group reported net income of $22 million

Despite Low Earnings, Litton Surpasses NYSE Forecasts

Military shipbuilder Litton Industries Inc. on Wednesday reported lower fiscal first-quarter earnings, but surpassed Wall Street forecasts due to strength in its recently refocused core operations. Litton, the largest builder of non-nuclear ships for the U.S. Navy, reported a net profit of $44.9 million, or $.97 per share, for the quarter ended Oct. 31, down from $49.9 million, or $1.07 a share, a year earlier. Analysts had expected earnings of $

Skaugen Reports Loss

The I.M. Skaugen group reported a pre-tax result of minus MUSD 1.5 in 2Q04 (MUSD 0.8 in 1Q04, minus MUSD 3.0 in 4Q03 and MUSD 2 in 2Q03). The result on EBITDA basis is MUSD 3.8 for this period (MUSD 4.4 in 1Q04, MUSD 5.4 in 4Q03 and MUSD 7.5 in 2Q04). The Gas Activities, and mainly Norgas experienced a much weaker EBITDA result in 2Q04 than anticipated. A worldwide shortage of product supply resulted in more idle time for the MNGC fleet and thus a reduced EBITDA contribution.

CMA CGM Reports Encouraging Outlook for 2012

CMA CGM, the world’s third largest container shipping group, reported revenue of U.S. $14.87 billion for the year ending December 31, 2011, a 4% increase on 2010. Volumes carried increased by 11%, outperforming the market’s 6.5% increase and reaching a record high of 10,016,000 teus. The market environment was challenging, shaped by overcapacity and the steep run-up in oil prices, with per-tonne bunker prices soaring 34% over the year

NOL Reports $50 Million Profit

Increased operational efficiency, better market conditions boost Group’s performance.   NOL Group  reported net earnings of $50 million for the third quarter of 2012, a $141 million turnaround from the $91 million net loss in the third quarter of 2011. It was the first time since the fourth quarter of 2010 that the global container shipping and logistics group posted a net profit. Singapore-based NOL attributed the improvement in financial performance to increased cost

Concerns Over Navy Research Center

According to AP reports, a group of faculty members wants a full review of a proposed contract for a Navy research center at the University of Hawaii. The group has released a report that says it remains unclear what kind of impact the $50 million center could have on the school and on faculty's right to publish research results. According to the report, the group’s concern with the Navy contract is its lack of explanation of the criteria the Navy would use when classifying sensitive

Resolve Stations “Flagship” Vessel in Key West

RESOLVE Marine Group reports that its vessel RESOLVE Pioneer, the company’s flagship, has been stationed in Key West, Fla. Resolve Pioneer is an AHTS, a multi-service vessel with ice class hull and 80-ton bollard pull, stationed in Key West for an indefinite period -- for emergency response and salvage standby for tanker and other commercial vessel casualties in the Gulf of Mexico, the Caribbean and the U.S. east coast

Hydro Group Reports International Growth

Aberdeen-based Hydro Group Plc, a global design and manufacturer of underwater cables and connectors for subsea, underwater, topside and onshore applications, sets sights on further international growth with opening of new Singapore office. Singapore currently represents Hydro Group’s second largest export market, with the Group identifying more than £1million of potential sales in the region per year.

NOL Reports $148 Million Year-On-Year Improvement

NOL Group reported first quarter 2013 Core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss of $85 million, a 64% improvement or $148 million, in the key profitability measure from a year ago. NOL attributed the improvement to a continuing focus on operational efficiency and cost mitigation. It was the fourth consecutive quarter of year-on-year improvement posted by the Group on a Core EBIT level.