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 •EBITDA, SEK 90 million •Operating result before impairment, SEK 18.2 million •Impairment, 0 •Operating result after impairment, SEK 18.2 million •Result after tax, SEK 1.4 million •Result per share, SEK 0.03 •EBITDA, $13.9 million (USD) •Available liquid funds (Including unutilised available credit facilities.), SEK 384.6 million concordiamaritime.com
Interim Report 1 January-30 September 2012 • Weak market during the quarter • Stena Primorsk chartered out to new customer • Another P-MAX tanker, Stena President, converted to IMO 3 Total income, SEK 417.1 million EBITDA, SEK 175.4 million Operating result before impairment, SEK 61.9 million Impairment, SEK -408.8 million Operating result after impairment, SEK -346.9 million Result after tax, SEK -365.7 million
Concordia Maritime AB (publ), an international tanker shipping company, announced its interim report. Highlights include: • Net sales: USD 50.55 million • Profit after tax: USD 7.20 million • Profit per share after tax: USD .150 • EBITDA of USD 18.1 (9.2) million • Forecast for 2008 unchanged: A profit before tax of USD 9.03 million Concordia Maritime has ordered ten tankers, which are being built in accordance with the MAX concept
Marco Wirén appointed Chief Financial Officer, Executive Vice President & member of the Wärtsilä Corporation Board of Management. Mr Wirén (47), M.Sc. (Econ.) has broad-ranging experience of financial management and international business management. He currently works as Executive Vice President and CFO in the Swedish steel manufacturer SSAB, having held that position since 2008. Prior to joining SSAB as Vice President Business control in 2007
The board of directors of Nordic Tankers A/S ("Nordic Tankers" or "the Company") decided to establish an incentive scheme in the form of a warrant programme for the Company's management and employees and for the employees in the Company's Danish subsidiaries. The Company's board of directors has thus today exercised the authority set out in clause 4c of the Articles of Association, given at the general meeting on 29 April 2011, to issue up to 1,245,000 warrants totally
Wärtsilä report steady business progress in its interim report for the period January to June 2012 Extracts from the company's report follow: The second quarter marked steady progress for Wärtsilä. Our net sales grew by 6% and our profitability was 10.3%. We continue to work towards reaching our growth and profitability targets this year. I am pleased with the good development within Ship Power’s specialised vessel segments
Cargotec's January-June 2014 interim report show that orders grew but operating profit was burdened by project cost overruns in Kalmar April-June 2014 in brief Orders received increased 19 percent and totalled EUR 993 (833) million. Order book amounted to EUR 2,285 (31 Dec 2013: 1,980) million at the end of the period.Sales declined 4 percent to EUR 804 (836) million.Operating profit excluding restructuring costs was EUR 4.7 (37.5) million, representing 0.6 (4
Chevron issues interim update for second quarter 2012 with earnings expected to be higher than in the first quarter Upstream results are projected to be lower between sequential quarters, due to lower average crude oil prices, partially offset by foreign exchange gains. Downstream earnings in the second quarter are expected to be significantly higher, reflecting improved refining margins and gains on asset sales. This interim update contains certain industry and company operating data for
The U.S. Maritime Administration (MARAD) released its quarterly report on port and shipping safety and environmental protection. This report discusses the latest session of the IMO Marine Environment Protection Committee; the bill to reauthorize the Transportation Equity Act for the 21st Century (TEA-21); the Coast Guard’s interim maritime security regulations; and the OECD report on Security in Maritime Transportation.
The U.S. Coast Guard issued an interim rule providing a partial rate adjustment for U.S. pilotage on the Great Lakes. This interim action is being taken while the agency completes its evaluation of issues raised in response to its proposed rule and calculates a full rate adjustment. The interim rate adjustment comes into effect on January 12, 2004. Comments on the interim rule should be submitted by February 10, 2004. 68 Fed. Reg. 69563 Source: HK Law
The use of Liquefied Natural Gas (LNG) as a transportation fuel for ships, barges and ferries has surged in recent months. This surge is due, in large part, to the boon in the production of natural gas in the U.S.; new low sulfur rules for the North American Emission Control Area (ECA)
On 28 October 2014, the Directors of BP p.l.c. announced that the interim dividend for the third quarter 2014 would be US$0.10 per ordinary share (US$0.60 per ADS). This interim dividend is to be paid on 19 December 2014 to shareholders on the share register on 7 November 2014.
In a joint press release the Australian Minister for Finance Senator Mathias Cormann and Minister for Defence David Johnston stated. that the shipbuilding expertise will to be inserted into the Air Warfare Destroyer program.
Norwegian Energy Company’s (Noreco) production in the third quarter of 2014 was basically unchanged from the previous quarter, significant impairments took down Noreco net results after tax to minus NOK 1 101 million. Revenues in the third quarter 2014 were NOK 296 million
SOLAS amendments to make IGF Code mandatory approved by Maritime Safety Committee The International Maritime Organization’s (IMO) Maritime Safety Committee (MSC), which met at the Organization's London headquarters for its 94th session, from November 17-21, 2014
The Directors of BP p.l.c. announced that the interim dividend for the third quarter 2014 would be US$0.10 per ordinary share (US$0.60 per ADS). This interim dividend is to be paid on 19 December 2014 to shareholders on the share register on 7 November 2014
Danish shipping company D/S Norden reported a smaller-than-expected third-quarter operating loss on Wednesday and maintained its full-year earnings guidance. D/S Norden said its loss before interest and tax was $27.6 million in July-September, against a forecast for a loss of $33
The United States Coast Guard (USCG) has granted Alternate Management System (AMS) acceptance for Wärtsilä's Aquarius EC Ballast Water Management System (BWMS). This allows all US and foreign flag ships fitted with this system to operate in US territorial waters and to discharge
Stolt-Nielsen Limited today announced that the company's board of directors approved the payment of an interim dividend of $0.50 per Common Share on December 11, 2014 to shareholders of record as of November 26, 2014. In accordance with normal settlement practice
U.S. Secretary of State John Kerry will meet Iran's foreign minister and the European Union foreign policy chief in Oman on Nov. 9-10 to discuss the Iranian nuclear issue ahead of a looming deadline for a final agreement, the U.S. State Department said on Friday.
British oil and gas producer BG Group Plc will delay until the next decade a proposed liquefied natural gas export terminal on Canada's Pacific coast, the Wall Street Journal reported, quoting the head of the company's Canadian unit. "We'd always said (construction would begin) as early as
European Union sanctions on Iran's main oil tanker firm NITC have been annulled after the EU failed to appeal against a court ruling that ordered the measures to be lifted, the shipping company said on Tuesday. An EU official told Reuters the European Union was working to resolve the issue
Chariot Oil & Gas Announce Interim Results for 1H 2014 Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, today announces its unaudited interim results for the six month period ended 30 June 2014.
Minimum propulsion power evaluation software extended to calculate added resistance in irregular waves Classification society ClassNK has released the latest version of its PrimeShip-GREEN/MinPower software. The software was originally developed by ClassNK and released in April 2014 to help
Sound Oil, the European / Mediterranean focused upstream oil and gas company, announced its unaudited interim results for the six months ended 30 June 2014. Highlights * Introduction of cornerstone institutional investor following the year-end at a