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Interim Report

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 •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  


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


Concordia Maritime;s Interim Report

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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


Wärtsilä Appoint Marco Wirén CFO & Executive V-P

Marco Wirén: Photo credit Wärtsilä

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


Nordic Tankers A/S Establishes a Warrant Program

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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


China Merchants Profit up 29pct

Photo:  China Merchants Holdings (International) Co., Ltd

 While China’s ports continue to face growth pressure, the country’s largest port operator is reaping the rewards of years of investments in overseas projects.   China Merchants Holdings (International) reported first-half net profit rose 29 per cent to HK$2.78 billion  ($US 361 million)  from a year ago, after throughput gains at Chinese terminals exceeded China’s overall container growth rate and traffic through overseas facilities rose at a


IMO Adopts Gas and Low-flashpoint Fuels Code

The IGF Code, which will become mandatory under amendments to SOLAS, aims to minimize the risk to the ship, its crew and the environment, having regard to the nature of the fuels involved. (Photo:: FJORD LINE ESPEN GEES)

The new mandatory code for ships fuelled by gases or other low-flashpoint fuels was adopted by IMO's Maritime Safety Committee (MSC), when it met at the Organization's London headquarters for its 95th session from June 3-12, 2015. The Committee also placed unsafe mixed migration by sea on its agenda and considered cyber security matters and passenger ship safety. It adopted new ships’ routing measures and approved a number of circulars arising from items put forward by the subcommittees


Cargotec Logs Higher Profits

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Cargotec's January-March 2016 interim report: Profitability improved according to target   * Strong order intake in Kalmar and Hiab   * MacGregor profitability satisfactory considering current market situation   * Strategy execution proceeding as planned   January-March 2016 in brief   * Orders received decreased 4 percent and totalled EUR 903 (939) million.   * Order book amounted to EUR 2,095 (31 Dec 2015: 2,064) million at the end of the period.


Cargotec's January-June 2014 Interim Report

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


ClassNK Publishes LH2 Carrier Guidelines

Classification society ClassNK has released its Guidelines for Liquefied Hydrogen (LH2) Carriers for the safe constructions and operation of LH2 carriers based on provisions of the International Maritime Organization (IMO) Interim Recommendations.  


K Line’s CO2 Reduction Targets on Track

Graph: K Line America, Inc.

Kawasaki Kisen Kaisha, Ltd. (K Line) has announced that its CO2 reduction targets have been approved as "scientifically consistent" with the  2 degree centigrade  temperature  goal set by the COP 21 Paris Agreement.  


Ship Design and Construction Matters

Photo: International Maritime Organization (IMO)

 ​The Sub-Committee on Ship Design and Construction (SDC) meets for its fourth session this week (13-17 February).    Key topics on the agenda include the expected finalization of draft explanatory notes to the SOLAS chapter II-1 subdivision and damage stability regulations and


Salvage and Marine Firefighting Verification

Firefighting onboard any ship is one of the most serious situations facing onboard personnel and responders. The containership CCNI Arauco caught fire in the aft container hold on September 1. After four intense weeks, Ardent safely returned the vessel to the owners. Ardent discharged the damaged containers out of the vessels cargo hold. These containers were declared as dangerous waste and required special treatment. (Photo: Feuerwehr Hamburg)

The U.S. Coast Guard regulations regarding salvage and marine firefighting (SMFF) as elements of vessel response plans (VRPs) for tank vessels have been in place since December 31, 2008. On September 30, 2013, these regulations were expanded to include non-tank vessels with a capacity of 2


Port of Seattle CEO Resigns

Port of Seattle image by Don Wilson

Port of Seattle CEO Ted Fick tendered his resignation at a public port commission meeting Thursday after more than 2.5 years at the helm.   Fick was recently placed on paid administrative leave due to “personnel issues” and the separation was described as “mutual”.


Vancouver Port Hires Marle as Permanent CEO

Julianna Marler Photo Port of Vancouver

The Port of Vancouver USA Board of Commissioners today voted 2-1 to hire interim CEO Julianna Marler as the port’s permanent CEO/Executive Director.   Marler, who was appointed interim CEO by the board in May 2016, was one of three finalists for the position


Australia, Japan Enact Rules for Shipping Liquid Hydrogen

Australia and Japan signed a memorandum at the headquarters of the Australian Maritime Safety Authority (AMSA) in Canberra which will allow liquid hydrogen to be shipped in bulk for the first time.   Ship containment systems are being developed in Japan that will be capable of safely


Lerwick Port Spells out Strategy for Expansion

Construction to extend the existing quay is now under way. Excavation of adjacent areas will provide significant laydown and open storage opportunities. Photo Lerwick Port

Lerwick Port Authority has detailed a series of objectives to meet its aim of running an efficient, cost-effective harbour, including continuing expansion of the infrastructure. The goals are featured in an interim Update produced ahead of publication of a new style annual report in Spring.


Albert Takes the Helm at VT Halter

Paul J. Albert (Photo: VT Halter)

Paul J. Albert has been appointed as the President and CEO for VT Halter Marine, effective immediately. “Paul's proven leadership and operational skills in managing complex shipbuilding projects makes him the right choice to lead VT Halter Marine


Vancouver Shipyards Appoints Tinto as VP

Tony Tinto (Photo: Seaspan Vancouver Shipyards)

Seaspan’s Vancouver Shipyards has announced the appointment of Tony Tinto to Vice President, Planning & Estimating.   Tinto joined Vancouver Shipyards (VSY) in 2006 as a Project Manager, before moving over to affiliate company Vancouver Drydock in 2007 in a similar


Safe Sea Transfer of Technicians on Agenda

Photo: International Maritime Organization (IMO)

 Technicians working in the growing offshore alternative energy sector often need to be transferred to their place of work by sea.    This needs to be done safely and efficiently, and this week International Maritime Organization (IMO)’s Maritime Safety Committee (MSC) will


Canada Mulls Options to Fill Icebreaker Gaps

File photo: Canadian Coast Guard

Canada's Coast Guard mulls its options as it awaits the arrival of replacement icebreakers to its aging fleet. In order to maintain open tracks through ice, escort ships, free ice-beset vessels, break up ice in harbors, resupply isolated northern communities and protect them from flooding


Dalstra Appointed CFO, Royal HaskoningDHV

Nynke Dalstra, Photo Royal HaskoningDHV

The Supervisory Board of Royal HaskoningDHV has appointed Nynke Dalstra as Chief Financial Officer (CFO). Going forwards, the Executive Board consists of CEO Erik Oostwegel and Nynke Dalstra (47) as CFO, a role she has held on an interim basis since October following the departure of former CFO


Rickmers Maritime: Uncertain Outcome casts Doubt on Business

File Image: CREDIT Rickmers

Rickmers Maritime, a Singapore-listed trust that operates container ships, said it faces the risk of going out of business given the uncertain outcome of its discussions with bondholders and senior lenders about restructuring its debt. The firm said it would not be able to pay an interest of S$4


US, Danish Maritime Academies Partner

SUNY Maritime academic deal Gil Traub (left) and SIMAC vice president for academic affairs Jan Askholm sign the memorandum of agreement at SUNY Maritime College. The agreement paves the way for collaboration and partnership between the two institutions. (Photo: SUNY Maritime)

Student exchanges, faculty collaborations and programmatic partnerships are now possible between the United States’ SUNY Maritime College and Svendborg International Maritime Academy in Denmark. The two institutions earlier this month signed a memorandum of agreement that will pave the






 
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