Interim Report
Concordia Maritime;s Interim Report
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. Six P-MAX-vessels have been delivered and four will be delivered during 2009/2010. These vessels, P-MAX, are product tankers of about 65,200 dwt.
Concordia Maritime - Interim Report 1
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
Rates for U.S. pilotage on the Great Lakes
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
Nordic Tankers A/S Establishes a Warrant Program
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 Development in First Half 2012
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
Wärtsilä Appoint Marco Wirén CFO & Executive V-P
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
VT Group Benefits from Acquisitions
Support services and shipbuilding firm VT Group said its interim results benefited from the positive impact of recent acquisitions, which traded in line with expectations. The company's earning per share jumped 22.3% to 12.89p. Due to the strong results, the company increased the interim dividend payable to 3.25p a share, an 8.3% increase from 2005. Within the next six months, the group will find out whether its bids for three large military PFI support programmes have been successful
MARAD Issues Report on Port and Shipping Safety
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.
Wärtsilä Interim Report January – March 2012
Wärtsilä report offshore and power plant markets supported 13% growth in orders HIGHLIGHTS OF THE REVIEW PERIOD JANUARY-MARCH 2012 - Order intake increased 13% to EUR 1,109 million (979) - At the end of the period the order book totalled EUR 4,409 million (3,669), +20% - Net sales decreased 7% to EUR 1,005 million (1,083) - Operating result EUR 102 million, or 10.1% of net sales (EUR 113 million and 10.4%) - Earnings per share 0.33 euro (0.38)
Chevron Interim Financial Update for Q2 2012
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
MARAD Deputy Matsuda Resigns
David Matsuda, the U.S. Maritime Administrator, announced that he is stepping down. In a statement released by Marad spokesperson Kim Strong, Matsuda's career highlights and accomplishments were also listed. The statement reads as follows:
Steamship Mutual Addresses Underwriting Imbalance
Steamship Mutual released interim financial results for the year ending February 20, 2013. As with all international group clubs, underwriting performance for the year ended February 20, 2013 was adversely affected by the worst pool experience on record
IMO to Shed Light on HME Disposal Confusion
Guidance circular to be issued for ships calling at ports without reception facilities for Harmful to the Marine Environment (HME) waste, including Hold Washing Water (HWW). Shipowners pleas for greater clarity on what to do when there are no adequate port reception facilities to receive residues
Maersk Drilling Fast Out of the Blocks in 2013
Interim financial results for Q1 2013 show a strong start to 2013 by Maersk Drilling. With an increase in profit to USD 146 million in the first quarter of 2013 from USD 123 million in first quarter of 2012, Maersk Drilling has come off to a good start in 2013
Indian Port Extends Container Handling Capability
A second container terminal at V.O. Chidambaranar Port at Tuticorin, Tamil Nadu, India to be ready by year-end. The second container terminal will have a handling capacity of six hundred thousand TEUs (20-foot equivalent units) to cater to the needs of export/import traders, reports The Hindu.
Reef Subsea Announce Management Changes
Mark Preece is to step down as CEO of the Reef Subsea Group by mutual agreement. The board has acknowledged and thanked Mr. Preece for his efforts in developing and positioning Reef Subsea as a strong subsea contractor in the oil and gas and offshore wind farm sectors.
IBIA CEO Quits to Join Saudi Seaport
International Bunker Industry Association (IBIA) chief Cliff Brand resigns to become Marine Director, King Abdullah Economic City Seaport. International Bunker Industry Association has announced that it is searching for a new chief executive following the resignation of its Chief Executive
UKHO Confirms Ian Moncrief as CEO
The United Kingdom Hydrographic Office (UKHO) confirms Moncrief in the post held on an interim basis since October 2011. The government as sole owner of the UKHO, ran an open, external and national competition for the Chief Executive role. This was a rigorous recruitment process with a panel
Drydocks World Hosts Jamaican Industry Minister
Drydocks World, a shipyard in the Middle East engaged in ship repair, conversion, new building and offshore construction, hosted a delegation from the Government of Jamaica led by The Hon. G. Anthony Hylton, Minister of Industry, Investment and Commerce.
Port Canaveral Generates $2 Billion Community Impact
Business activity at Port Canaveral generated $2 billion and 17,000 jobs for the local community in 2012, up 73% in business revenue since the last economic impact analysis three years ago. Leading industry consulting firm Martin Associates of Lancaster, Pa
L.A. Port Director Receives USC Alumni Award
Port of Los Angeles Executive Director Geraldine Knatz, Ph.D., has been honored by the University of Southern California Alumni Association with the prestigious Alumni Merit Award. Knatz earned a Master of Science degree in environmental engineering and a doctorate in biological science from USC
CLIA Welcome 'Whodunit' Proposals
Cruise Lines International Association (CLIA) commend the International Maritime Organization's (IMO) Legal Committee's proposals for on-board crime procedures. The International Maritime Organization's (IMO) Legal Committee recently adopted a proposal which CLIA co-sponsored on international
Bahrain Mine Counter-measures Exercise Draws 41 Nations
International Mine Countermeasures Exercise (IMCMEX) 13 sees a gathering of 35 ships, 18 Unmanned Underwater Vehicles (UUVs) & over 100 explosive ordinance disposal (EOD) divers. Representatives from 41 nations are assembled in Bahrain to prepare for International Mine Countermeasures
W&O Named Exclusive U.S./Canada Distributor of Hyde Guardian
Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, said it has named W&O Supply as its exclusive sales distributor in the U.S. and Canada for Hyde Guardian Ballast Water Treatment Systems (BWTS). The chemical free Hyde Guardian BWTS uses efficient filtration and
Green Lights on Singapore Strait TSS Crossing
IMO's Maritime Safety Committee has adopted an earlier recommendation that ships display 3 all-round green lights when crossing the Singapore Strait Traffic Separation Scheme (TSS). The night signals identify these vessels crossing the TSS during hours of darkness which will allow other vessels