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 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
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
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 U.S. Coast Guard’s (USCG) Office of Design and Engineering Standards released CG-ENG Policy Letter 02-15 to provide interim guidance for the design standards for barges carrying liquefied natural gas in bulk. As interest in the use of LNG as a maritime fuel has increased
Chevron’s new 100BN cylinder oil Taro Special HT 100 offers ship owners the ability to achieve the latest emissions legislation and has now received interim approval for its use in another key engine range – products made by Winterthur Gas & Diesel Ltd (formerly Wärtsilä)
Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), held the Naming Ceremony today for the second Patrol Vessel (PV), RNOV Shinas, and the interim delivery for the first vessel RNOV Al Seeb, built for Royal Navy of Oman (RNO).
MacGregor reorganized into seven operative divisions in the beginning of 2015 to improve customer focus. Offshore Mooring and Loading Division drives the development of Systems and Equipment for Offshore Floating Units. MacGregor appoints Høye G
Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period. During the period, profit attributable to the owners of the group increased 3% year-on-year to HK$561 million
Singapore Technologies Engineering Ltd reported today its full year financial results ended 31 December 2014 (FY2014) with a Group revenue of $6.54b compared to $6.63b as reported for FY2013. Profit before tax (PBT) of $650.7m was $79m or 11% lower year-on-year compared to $729
MMA Offshore, the company born from the merger of Mermaid Marine Australia and Jaya Holdings in June 2014, posted a net profit of $37.7 million for the half year that ended on December 31, 2014. This represents a 55.8% increase over the same half-year in 2013 for what was formerly Mermaid Marine
The ballast water management system developed by Danish company Bawat A/S has been granted U.S. Coast Guard (USCG) Alternate Management System (AMS) acceptance for an interim period of up to five years, enabling commercial vessels equipped with the system to be approved to discharge treated
Jay Daga has been named Chief Financial Officer of Topaz Energy and Marine, an international offshore support vessel owner with operations in the Middle East, Caspian and West Africa. Daga will take his position with immediate effect
BG Group plc informed today that Helge Lund will join the Company as Chief Executive and an Executive Director with effect from February 9, 2015. This is ahead of the previously announced start date of March 2, 2015. Lund’s start date has been brought forward following
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