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Interim Management

Rolls Royce Give Interim Management Statement

Rolls Royce say that current trading is consistent with guidance contained in last annual report Trading since the start of the year is consistent with the guidance provided in our Full Year Report in February. For the full year, the Group continues to expect good growth in underlying revenue and underlying profit with cash flow around breakeven as we continue to invest in future growth. Guidance excludes the impact of the Tognum acquisition and the proposed sale of the Group’s 32.5% shareholding in International Aero Engines (IAE). The Group’s balance sheet remains strong. Recognising this, Standard & Poor’s Ratings Services has raised its long and short term corporate credit ratings to ‘A/A-1’ from ‘A-/A-2’, with a stable outlook. Since announcing preliminary results in February, Rolls-Royce has achieved some important milestones. The Trent XWB engine took to the skies for the first time, on board an Airbus A380 flying test bed. In Singapore, we opened our new manufacturing and training facilities that will produce wide chord fan blades and assemble and test large commercial jet engines. Rolls-Royce continues to invest across the Group in technology, capability and facilities to deliver on our current commitments, to improve productivity and to create opportunities for future growth.


Braemar Announces Unaudited Half-Year Results

Braemar-Steege_Logo.jpg

Unaudited interim results for the six months ended 31 August 2011. Braemar Shipping Services plc (“Braemar” or the “Group”), an international provider of shipping and marine services, today announces unaudited half-year results for the six months ended 31 August 2011.   FINANCIAL HIGHLIGHTS • Revenue from continuing operations £61.5m (interim 2010/11: £67.6m) • Pre-tax profit £5.0m (interim 2010/11: £7.2m)


Measures Announced to Prevent Environmental Damage from Harmful Aquatic Plants and Animals

The USCG announced measures to prevent environmental and health problems resulting from harmful aquatic plants and animals carried from abroad in ships' ballast water, a move reflecting the Department of Transportation's commitment to controlling and preventing the introduction of these species. A new interim rule, effective July 1, requires ships operating outside of U.S. waters to report their ballast water management practices


POLB Appoint Al Moro Interim Executive Director

Al Moro: Photo credit Port of Long Beach Commissioners

The Long Beach Board of Harbor Commissioners appoint chief harbor engineer Al Moro as the Port of Long Beach’s interim executive director. Moro, who joined the Port in 1997 as a civil engineer, currently oversees all administrative and technical activities for the Port’s engineering programs, including nearly $4 billion in capital improvement projects. “The Board is extremely pleased that we have unanimously selected Al Moro as our interim executive director


Wärtsilä's Ballast Water System Earns USCG AMS Acceptance

Photo: Wärtsilä

Wärtsilä has been granted Alternate Management System (AMS) acceptance for its AQUARIUS UV Ballast Water Management System (BWMS) by the United States Coastguard (USCG). This allows all U.S. and foreign flag ships fitted with the Wärtsilä AQUARIUS UV BWMS to operate in U.S. territorial waters and to discharge its treated ballast water for an interim period of up to five years from the ship specific implementation date.


Capacci Named Washington Ferries Chief

State Transportation Secretary Lynn Peterson today named Capt. George A. Capacci interim assistant secretary in charge of the Ferries Division for the Washington State Department of Transportation. Capacci will lead the ferry system until a permanent assistant secretary is selected. WSDOT will conduct a nationwide search to find the best replacement for outgoing Assistant Secretary David Moseley who resigned effective April 15.


FS Nivôse Saves Nordneptun from Pirates

Photo courtesy EU NAVFOR

A helicopter from the EU NAVFOR warship FS Nivôse was launched against a pirate skiff leading to the disruption of a pirate attack against the merchant vessel Nordneptun off Zanzibar, Tanzania on the morning of 25 May. EU NAVFOR continues to successfully patrol, intercept and disrupt pirate attacks throughout the EU NAVFOR area of operations. The French EU NAVFOR warship Nivôse responded immediately to a distress signal from Nordneptune, a tanker


UPDATE: OMB Declares USCG BWT Standard as "Final"

Draft USCG ballast water rule now finalized, according to OMB.   The Office of Management and Budget (OMB) completed its review of the Coast Guard's Ballast Water Discharge Standard regulations in accordance with Executive Order 12866, and changed its designation from an Interim Final Rule to a Final Rule on February 24, 2012. The Coast Guard is preparing it for publication in the Federal Register, and expects to complete the administrative process within 30 days.  


Concordia Maritime Release Interim Report

Stena Supreme

In accordance with the Swedish Securities Market Act and the Swedish Financial Instruments Trading Act, Concordia Maritime published its interim report for 2013. Highlights are as follows: Interim Report 1 January – 30 June 2013 •Positive view of the product tanker market continues •Weaker market in Q2, but six-month total better than 2012 •Seven out of ten P-MAX tankers on the open market Six months 2013 •Total income, SEK 246.7 million


SUNY Maritime Spring Commencement: May 9

Photo: SUNY Maritime College

The State University of New York Maritime College will hold its May Commencement Ceremony on Friday, May 9, 2014 at 11 a.m., in the St. Mary’s Pentagon, Fort Schuyler, on the SUNY Maritime campus. Dr. Michael A. Cappeto, Interim President of the Maritime College, will preside over the Commencement. Approximately 220 students are expected to receive degrees during the ceremonies. John J. Ferriola, Chairman, CEO, and President of NUCOR Corporation


Chevron Cylinder Oil Gains Interim NOL for Wärtsilä Engines

Photo: Chevron

Chevron’s new 100BN cylinder oil Taro Special HT 100 offers ship owners the ability to achieve the latest emissions legislation and has now received interim approval for its use in another key engine range – products made by Winterthur Gas & Diesel Ltd (formerly Wärtsilä)


Design Standards for US Barges Carrying LNG

The U.S. Coast Guard’s (USCG) Office of Design and Engineering Standards released CG-ENG Policy Letter 02-15 to provide interim guidance for the design standards for barges carrying liquefied natural gas in bulk.   As interest in the use of LNG as a maritime fuel has increased


They said it ...

Joseph Bennett, EVP and Chief Investor Relations Officer, Tidewater, Inc., on rapid decline in oil pricing from mid-2014 to today.

“While the dry cargo market was depressed in most of 2014, the year ended with sharply increasing rates in the tanker market, and our tanker department generated the best results since 2008. The strong tanker market has continued into 2015.”


Transocean Appoints Jeremy D. Thigpen President & CEO

Image: Transocean Ltd

 The CFO of Houston-based National Oilwell Varco Inc. (NOV) is stepping down to become CEO of Transocean Ltd. (RIG), one of NOV’s largest customers.   Effective April 22, Jeremy Thigpen will become CEO of Switzerland-based Transocean, which has its main U.S. office in Houston


Five More Tankers under Crowley Management

Photo: Arya Tankers

Crowley Accord Management Pvt. Ltd., the international ship management venture managed globally by Crowley Maritime Corp.’s ship management group, was awarded full technical management contracts for five new tankers. These tankers will be joined in the coming weeks by three more


MMA Offshore Posts 55.8% YoY Profit Increase

  Photo courtesy of MMA Offshore

MMA Offshore, the company born from the merger of Mermaid Marine Australia and Jaya Holdings in June 2014, posted a net profit of $37.7 million for the half year that ended on December 31, 2014. This represents a 55.8% increase over the same half-year in 2013 for what was formerly Mermaid Marine


ST Engineering Y-O-Y Profits Slip

  Singapore Technologies Engineering Ltd  reported today its full year financial results ended 31 December 2014 (FY2014) with a Group revenue of $6.54b compared to $6.63b as reported for FY2013. Profit before tax (PBT) of $650.7m was $79m or 11% lower year-on-year compared to $729


Brightoil Reports Steady Growth in Interim Results

Photo: Brightoil Petroleum

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period, profit attributable to the owners of the group increased 3% year-on-year to HK$561 million


Eniram to Provide Boil-off Management for LNG Sector

Eniram Limited, the Finnish provider of energy management technology and data analytic services to the shipping industry, announced that it is releasing an onboard and onshore Boil-off Management Tool designed for LNG carriers.   Eniram’s Boil-off Management Tool enables


Shipping Industry Faces Shake Up

Photo: Aurelie Moulin

As global shipping grapples with its worst downturn in 30 years, private equity firms are unwinding massive bets made on the sector in a move set to accelerate a restructuring of the shipping industry.   Private equity invested tens of billions in global shipping after the 2008 financial


NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg (Photo courtesy of NORDEN)

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions to continue through 2015 as the tanker market has come off to a good start.  


MacGregor Appoints Høyesen as VP

Høye Høyesen as Vice President, Offshore Mooring and Loading Division

MacGregor reorganized into seven operative divisions in the beginning of 2015 to improve customer focus.   Offshore Mooring and Loading Division drives the development of Systems and Equipment for Offshore Floating Units. MacGregor appoints Høye G


ST Marine Celebrates Naming of Vessels

RNOV Shinas (Photo courtesy of ST Marine)

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), held the Naming Ceremony today for the second Patrol Vessel (PV), RNOV Shinas, and the interim delivery for the first vessel RNOV Al Seeb, built for Royal Navy of Oman (RNO).


4 Chaplains Foundation Recognizes Helix CEO

LR George DuBois; Capt. Tom Allen, U.S. Coast Guard Sector Jacksonville; Joanne Stopke; Art Thomas; Lisa Eckley-Thomas; Rear Adm. John Korn, Commander U.S. Coast Guard 7th District; retired Capt. Louis Cavaliere, U.S. Navy;

  On Thursday, March 19, 2015, Arthur H. Thomas, Sr., president and CEO of Helix Alliance, Inc., received the Chapel of Four Chaplains Legion of Honor Award. The award was presented by retired Capt. Louis Cavaliere, U.S. Navy, chairman of the Four Chaplains Memorial Foundation


UASC Streamlines Fuel Purchasing

Photo: UASC

United Arab Shipping Company (UASC), a global shipping company based in the Middle East, has implemented Shiptech, an end-to-end fuel management system developed by global cloud software company Inatech.   Shiptech provides the company with an automated, cloud-based






 
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