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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


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


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 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.


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


South Korea Police: Body May Be Ferry Disaster Fugitive's

South Korean police are trying to confirm the identity of a body they believe may have been the fugitive head of the family that owned the operator of a ferry that capsized in April, killing more than 300 people, a police official told Reuters.


Good Profitability Noted in Wärtsilä H1 Interim Report

Wärtsilä 46DF Engine: Image courtesy of the manufacturers

Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014 Order intake decreased 5% to EUR 2,305 million (2


Maritime Fuel of the Future: Training to an Uncertain Standard

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Despite its unquestionable allure, LNG as a fuel carries with it as many risks as it does answers to the problems it promises to solve. As industry and OEM’s work to remove any doubt, the collaborative effort outpaces the slow-moving regulatory machine.


GLDD Appoint Mark Marinko Senior V-P & CFO

Great Lakes Dredge & Dock Corporation (GLDD) informs that Marinko joins the Company to fill the role vacated in April 2014 and held in interim by the Vice President and Controller, Katherine Hayes. The Company adds that it would like to thank Ms


Alert: NTVRP Interim Authorizations Expire 31, July 2014

The UK P&I Club notifies that the “Nontank Vessel Response Plans and Other Response Plan Requirements” (NTVRP) final rule  required owners or operators of nontank vessels 400 gt and above to submit oil spill response plans for vessels operating on the navigable waters of the


Zargon Oil & Gas Announces Resignation of CFO

Zargon Oil & Gas Ltd. announces that Mr. Jason Dranchuk has tendered his resignation as Vice President, Finance and Chief Financial Officer of Zargon effective July 14, 2014 to pursue other opportunities. "We sincerely appreciate Jason's professionalism


USCG Double Hull Tanker Rule Published

The U.S. Coast Guard (USCG) final rule on escort requirements for certain tankers operating on the waters of Prince William Sound, Alaska, was published Friday in the Federal Register. This rule finalizes the escort requirements in Title 33, Code of Federal Regulations, Part CFR 168


EnQuest Eyes ExxonMobil Malaysia Assets

EnQuest logo

  EnQuest PLC, through its wholly owned subsidiary EQ Petroleum Production Malaysia Ltd, agreed to acquire ExxonMobil Exploration and Production Malaysia Inc.’s interest in the Seligi oil field and the PM8 PSC, located offshore Malaysia


BP's First Qtr Interim Dividend For 2014

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The Directors of BP p.l.c. announced that the interim dividend for the first quarter 2014 would be US$0.0975 per ordinary share (US$0.585 per ADS). This interim dividend is to be paid on 20 June 2014 to shareholders on the share register on 9 May 2014


Egypt Puts Sinai's Al-Arish Port under Military Control

Egypt has transferred the assets of the Al-Arish port in the Sinai Peninsula from a civilian-run agency to the armed forces, citing national security reasons in an area where militant attacks have increased in the past year. The decision was made last week by then-interim President Adly Mansour


Senior U.S., Iranian Officials To Meet In Geneva

Deputy Secretary of State Bill Burns

  The United States said on Saturday it will send its No. 2 diplomat to Geneva to meet senior Iranian officials on Monday and Tuesday in what appeared an effort to break a logjam in wider negotiations over Tehran's nuclear program.


New Warship for Oman’s Royal Navy

HM Naval Base Portsmouth was lit up red, white and green this morning as BAE Systems handed over the third of three new warships to the Royal Navy of Oman. AL RASIKH is a 99 meter corvette designed, built and delivered as part of Project Khareef


New Port of LA Executive Director Nominated

Gene Seroka: Photo Port of Los Angeles

Mayor Eric Garcetti has nominated Gene Seroka, an executive with APL shipping line, as the next Executive Director of the Port of Los Angeles. The Board of Harbor Commissioners will consider Mayor Garcetti's nomination at its June 5th meeting


ConocoPhillips Donates $1 Mln to Univ. of Texas, Austin

ConocoPhillips

  ConocoPhillips (NYSE: COP) continued its commitment of funding quality higher education at The University of Texas at Austin yesterday with a contribution of $1.185 million. A portion of the donation, $685,000, is intended to support a variety of programs and activities that stimulate


Statoil Approves Dividend Of NOK 7.00 Per Share

AGM in progress

The annual general meeting of shareholders in Statoil ASA today approved a dividend of NOK 7.00 per share. The dividend accrues to the shareholders as of 14 May 2014. Statoil's shares listed on the Oslo Stock Exchange (Oslo Børs) will be traded ex-dividend as of 15 May 2014






 
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