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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;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


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


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'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


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.


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


Singapore Exchange Completes Baltic Exchange Takeover

Singapore Exchange has completed its takeover of the privately-owned Baltic Exchange, sealing an 87 million pound ($108 million) deal for one of London's oldest institutions, the groups said on Tuesday. The acquisition is one of the latest developments in a string of mergers


Braemar Shipping Fighting The Waves

Photo: Braemar Shipping Services plc

 Braemar Shipping Services PLC reported a sharp decline in pretax profit for the first half of its financial year on Tuesday, hit by difficult conditions in a number of its key end markets, reports Alliance News.   In August, Braemar warned its results for the year to the end of


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


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


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


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.  


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.  






 
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