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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


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


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


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


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


US EPA Serves ECA Suspected Violation Subpoenas

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 U.S. EPA has served subpoenas in connection with the investigation into potential violations of MARPOL Annex and the Act to Prevent Pollution from Ships (APPS) following the coming into force of the North American Emissions Control Area (ECA) on 1, August 2012.


Iran's Oil Exports Surge above Sanctions

Iran's crude oil exports have surged to their highest in 20 months, far exceeding a 1 million barrel-per-day limit set by the West under an interim deal on curbing Tehran's nuclear program. The International Energy Agency's monthly report revised February's global crude imports from Iran


Harley Marine NY Welcomes New Vessel

Harley Marine NY, a subsidiary of Harley Marine Services, took delivery of the river style push-boat, HMS Justice, from Conrad Shipyard of Morgan City, Louisiana. HMS Justice is the fifth vessel in this class and joins the New York fleet of two tugboats and four double hull petroleum barges


ClassNK Releases EEDI Verification Software – Free

File photo CCL

Japanese classification society ClassNK says it offers its Minimum Propulsion Power Calculation Software and ISO-based Progressive Speed Trial Analysis Software free of charge to the shipping Industry ClassNK has released its new PrimeShip-GREEN/MinPower software


Neumann Named CEO and President of Starboard

Beth Neumann

Beth G. Neumann has joined Starboard Cruise Services as CEO and President, reporting to Starboard Chairman, Ed Brennan. Owned by renowned world leader in luxury, LVMH Moët Hennessy Louis Vuitton, Starboard is the largest and leading onboard retailer in the cruise industry


Heidmar Names van der Zijde CEO

The Board of Directors of Heidmar has announced the appointment of Hans van der Zijde as Heidmar's new Chief Executive Officer. Mr. van der Zijde graduated from the Nautical Academy of Rotterdam in 1985 and subsequently studied Maritime and Logistic Management there, graduating in 1992.


Clarksons Chairman to Step Down

Philip Green: Photo courtesy of Clarksons

Clarksons say that Philip Green has decided to step down as chairman of Clarksons in order to focus on his other responsibilities. His resignation from the board will take effect from the AGM on 9 May. Bob Benton, chairman until last year, will remain a non- executive board member and assume the


India Essar's Oil Imports from Iran Jump Sharply

By Nidhi Verma, Reuters Essar Oil, a key buyer of Iranian oil, in January sharply raised imports from the Islamic state and also became the first Indian refiner to ship in the Brazilian heavy grade Polvo, tanker arrival data showed. India's oil imports from Iran more than doubled in January


AdvanFort Begins Internal Restructuring

Private maritime security provider AdvanFort announced that it will commence a restructuring program to implement rigid quality control for its PCASPs, meant to ensure that the company complies fully with all regulations in the maritime security industry.


Antoniazzi Named Sales Director, MAN Diesel & Turbo

David Antoniazzi (Photo: MAN Diesel & Turbo)

MAN Diesel & Turbo North America President, Robert Burger has appointed David Antoniazzi as Director Sales – Cruise, Ferry and Merchant. In his new capacity, he is responsible for promoting and selling MAN Medium Speed Engines and aft ship products in North America.


Ousted Libyan PM flees country after tanker escapes rebel-held port

Former Libyan prime minister Ali Zeidan has fled to Europe after parliament voted him out of office on Tuesday over his failure to stop rebels exporting oil independently in a brazen challenge to the nation's fragile unity. Zeidan was in Malta for two hours late on Tuesday on a refuelling stop


Eleven Models Now Available from JCB

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Mermaid Marine has increased its range of JCB Dieselmax marine diesel engines. The company, based in Poole, now has eleven models available in the JCB TCAE range ranging from 55kW / 74hp to 120kW / 160hp suitable for a large variety of applications


Capacci Named Washington Ferries Chief

State Transportation Secretary Lynn Peterson today named Capt. George A. Capacci interim assistant secretary in charge of the Ferries Division for the Washington State Department of Transportation. Capacci will lead the ferry system until a permanent assistant secretary is selected


Moore Director Declines Permanent Position at Port of L.A.

Photo: The Port of Los Angeles

Interim Port of Los Angeles Executive Director Gary Lee Moore announced today that he will not apply for the permanent position. After an executive director is selected and in place, Moore will return to his duties as Los Angeles City Engineer.


Stolt-Nielsen Changes Accounting for Two Acquisitions

Stolt-Nielsen Limited announced that Finanstilsynet (The Financial Supervisory Authority of Norway) has completed a review of certain aspects of the company's consolidated financial statements for 2012. The company agreed to reverse $12.3 million of the non-cash gains on bargain purchase


 
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