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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.

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

Braemar Announces Unaudited Half-Year Results


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)

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

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

Odfjell Tankers Head Steps Down

Morten Nystad (Photo: Odfjell)

Morten Nystad will step down as senior vice president of Odfjell Tankers after 35 years with the company. His departure is effective immediately.   Nystad has held various management positions during his tenure at Odfjell, serving within the company’s chartering department in Bergen and other locations.   Nystad’s exit follows the departure of president and CEO Jan A. Hammer in December 2014 “due to different views on the strategic direction for the

Construction Set to Start on Jacksonville LNG Facility

JAX LNG said it has executed the remaining engineering and procurement contracts required to begin construction of a new liquefied natural gas (LNG) liquefaction and storage facility at Dames Point near the Port of Jacksonville.   The JAX LNG liquefaction facility is expected to be

NYK Expects Loss of $1.9 Bln

Image: NYK Line

 The Japanese shipping operator Nippon Yusen Kabushiki Kaisha (NYK Line) will book an ‘extraordinary’ loss totaling 195 billion Japanese yen (U.S. $1.89 billion) for the interim period of its current fiscal year, forced by a deep slump in the shipping market to write down the

Genco Shipping Chairman Resigns

Image: Genco Shipping & Trading Limited

 Genco Shipping & Trading Limited announced that Peter C. Georgiopoulos has resigned from his role as Chairman of the Board, effective immediately. Arthur L. Regan has been elected as Interim Executive Chairman.   Georgiopoulos said

NYK Conduct Annual Safety Campaign

NYK president Tadaaki Naito, NYK executive officers, and a group of six vessel captains and chief engineers openly exchange opinions about the safe operation of vessels Photo NYK

n August 24, NYK president Tadaaki Naito, NYK executive officers, and a group of six vessel captains and chief engineers held a meeting at NYK headquarters in Tokyo to openly exchange opinions about the safe operation of vessels that NYK is managing and operating.  

Swiber Applies for Judicial Management Instead of Liquidation

Photo: Swiber

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber shocked markets earlier this week by filing for liquidation, as it faced hundreds of million of dollars in debt and a decline in

Westports Q2 Profit Up

Photo: Westports Malaysia

 Malaysian port operator Westports Holdings saw second quarter net profit jump 31% to MYR159.9m ($39.6m) from MYR122.1m in the previous corresponding period due to an increase in container volumes.   Correspondingly, revenue also climbed to RM522.6mil from RM405.3mil last year.

Court Orders Swiber to Stop Payment of Bank Guarantees

File photo: Swiber

Swiber Offshore Construction, part of troubled Singapore oilfield services firm Swiber Holdings, has received an interim court order to halt payment of bank guarantees for projects it was involved in, a stock exchange filing showed.  

SBM Offshore Nominates Wood as CFO

SBM Offshore has nominated D.H.M. Wood as a member of the management board and chief financial officer (CFO) to replace current CFO, P.M. van Rossum, who is set to retire.   The company will hold an Extraordinary General Meeting (EGM) on November 30

Grand Bahama Shipyard Adds Four Executives

Ian Edward Ross (Photo: GBSL)

Grand Bahama Shipyard Limited (GBSL), a Caribbean shipyard providing retrofit, refurbishment and revitalization to cruise and commercial vessels, has added four new positions to its executive team in 2016.   Taking up the new executive positions are Ian Edward Ross, Don Keirce

Asia’s Biggest Container Shipper Posts Loss

Photo: China COSCO Holdings Company Limted

 Asia’s largest container shipping company China Cosco Holdings Co  posted a net loss of Yuan7.2bn ($1.1bn) for the first six months of 2016, reversing the Yuan2bn net profit seen during the same period last year as excess capacity dragged down cargo rates.  

Skaugen Goes to Red Again

Photo: I.M. Skaugen SE

 Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities for long routes the petrochemical market.   The gas carrier owner reported profit before and after tax of minus $ 5

Ballast Water Convention to Enter into Force in 2017

Päivi Luostarinen handed over the country’s instrument of acceptance to the Ballast Water Management Convention to Kitack Lim on Thursday, September 8, 2016.

Finland has acceded to the International Convention for the Control and Management of Ships' Ballast Water and Sediments (BWM Convention), triggering the 2017 entry into force of an international environmental protection measure that aims to stop the spread of potentially invasive aquatic species

Dryships Announces Deleveraging Transaction

File photo: Ocean Rig Corcovado and Ocean Rig Olympia naming ceremony at Samsung Heavy Industries

 DryShips Inc., owner of drybulk carriers and offshore support vessels,  announces deleveraging transaction and vessel sale.   It has reached an agreement with Sifnos Shareholders Inc. (sifnos) to convert $8.75 million of outstanding principal amount  

Singapore Plans to Shape Bunkering for World's Future

Expansion of international focus group to cooperate on LNG bunkering. Photo:  Maritime and Port Authority of Singapore

 Maritime and Port Authority of Singapore (MPA) introduced several new initiatives at SIBCON as part of Singapore’s continued efforts to enhance bunkering processes and prepare the bunkering industry to meet future demands.   

Chamber of Marine Commerce Taps Johnston as Interim President

Raymond Johnston (Photo: Chamber of Marine Commerce)

The board of directors of the Chamber of Marine Commerce has appointed Raymond Johnston as interim President, effective October 1, 2016.   Johnston will oversee the implementation of the merger between the Chamber of Marine Commerce and the Canadian Shipowners Association (CSA) announced

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