Marine link
 

Net Income

General Maritime Corp. Announces 3Q Results

General Maritime Corporation reported its financial results for the three and nine months ended September 30, 2006. Financial Review: 2006 Third Quarter The company had net income of $24.0m, or $0.78 basic and $0.76 diluted earnings per share, for the three months ended September 30, 2006 compared to net income of $7.2 million, or $0.19 basic and $0.19 diluted earnings per share, for the three months ended September 30, 2005. The increase in net income was principally the result of higher voyage revenues attributable to a generally higher rate environment in the third quarter of 2006 compared to the prior year. Included in net income of $24.0m are certain non-recurring items including a reduction in gain on sale of vessels of $0.5 million and a reduction in net voyage revenue of $0.8 million resulting from the final settlement of customer claims relating to time charter contracts of the Company's formerly owned OBO vessels. Net voyage revenue, which is gross voyage revenues minus voyage expenses unique to a specific voyage (including port, canal and fuel costs), decreased 26.9% to $55.9 million for the three months ended September 30, 2006 compared to $76.5 million for the three months ended September 30, 2005. EBITDA for the three months ended September 30, 2006 was $34.0 million compared to $42.4 million for the three months ended September 30, 2005 (please see below for a reconciliation of EBITDA to net income). Net cash provided by operating activities was $15


Stolt Offshore Restates Second Quarter Earnings

Stolt Offshore S.A. has restated its second quarter and six-month results as a result of two accounting adjustments. The adjustments have a positive impact on the Company's net income of $1.4 million. The net income for the quarter ended May 31, 2002 is now $4.8 million, or $0.06 per share, on net operating revenue of $333.4 million. For the six-month period ended May 31, 2002, the Company now reports a net profit of $5.1 million, or $0.06 per share,


Hornbeck Announces Record 2005 Results

Hornbeck Offshore reported that fourth quarter revenues increased $19.3 million, or 51.1%, to $57.1 million compared to $37.8 million for the fourth quarter of 2004. Operating income was $24.9 million, or 43.6% of revenues, for the fourth quarter of 2005 compared to $10.2 million, or 27.0% of revenues, for the prior-year quarter. These record operating results were primarily driven by continued full practical utilization of the Company's offshore supply vessel (OSV) fleet in the U.S


W&T Offshore Reports 3Q Results

W&T Offshore, Inc. (NYSE: WTI) announced its financial and operational results recently. Net income for the third quarter of 2007 was $36.3m, or $0.48 per diluted share, on revenue of $255.2m, compared to net income for the same quarter in 2006 of $66.7m, or $0.91 per diluted share. Net income for the third quarter of 2007 reflects the impact of a $6.4m unrealized derivative loss ($4.2m after-tax), or $0.05 per diluted share


Diamond Offshore Announces Third Quarter 2001 Earnings

Diamond Offshore Drilling reported net income for the third quarter of 2001 of $53.4 million, or $0.38 per share on a diluted basis, compared to net income for the prior year quarter of $10.5 million, or $0.08 per share on a diluted basis. Revenues for the third quarter of 2001 were $230.6 million compared to revenues of $157.3 million for the third quarter of 2000. For the nine months ended Sept. 30, 2001, the Company reported net income before extraordinary items of $141.7 million, or $1


Teekay Tankers Q4 & Year End Results

Teekay Tankers Ltd. (NYSE:TNK) - Highlights ·         Declared a cash dividend of $0.22 per share for the quarter ended December 31, 2010. ·         Reported fourth quarter adjusted net income of $2.6 million, or $0.05 per share (excluding specific items which increased GAAP net income by $5.2 million, or $0.10 per share). ·         Over 60 percent of fourth quarter revenue days earned average fixed


Halliburton Announces 1Q Results

Halliburton announced that net income in the first quarter of 2006 was $488m, or $0.91 per diluted share, compared to net income of $365m, or $0.72 per diluted share, in the first quarter of 2005. Net income in the first quarter of 2006 included income from discontinued operations of $7m after tax, or $0.01 per diluted share, primarily related to the operations of KBR's Production Services group, which is expected to be sold in the second quarter of 2006 with a pretax gain of approximately


GlobalSantaFe Announces 3Q Earnings

Worldwide oil and gas drilling contractor GlobalSantaFe Corp. reported net income for the third quarter ended September 30, 2003, of $15.1 million, or $0.06 per diluted share, on revenues of $458.1 million, as compared to net income of $75.0 million, or $0.32 per diluted share, on revenues of $514.4 million for the same quarter in 2002. For the nine months ended September 30, 2003, GlobalSantaFe reported net income of $104.9 million, or $0.45 per diluted share, on revenues of $1,408


Overseas Shipholding Group Reports Record First Half Results

Overseas Shipholding Group, Inc. reported $86 million of net income for the first six months of 2003, the highest earnings during the first six months of any year in the Company's history. Net income for the quarter ended June 30, 2003 was $41,840,000, or $1.21 per share, compared with net income of $3,670,000, or $0.11 per share, in the second quarter of 2002. Results for the second quarter of 2003 include a $2,178,000, or $0


Excel Maritime Reports Q3 Results

Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportation services for dry bulk cargoes, announced its operating and financial results for the third quarter and nine-month period ended September 30, 2009. Third Quarter 2009 Highlights: Revenue from operations for the quarter amounted to $174.4 million as compared to $231.6 million in the third quarter of 2008.


Norfolk Intermodal Volume Falls

Photo: Norfolk Southern Railway

 Norfolk Southern Railway has announced disappointing financial results, and a cost-cutting plan that could eliminate two thousand jobs over the next four years.   Norfolk has assured shareholders that despite weak carload volume and tumbling intermodal traffic producing a double-digit


Navios Maritime Posts 4Q Profit

Photo: Navios Maritime Midstream Partners LP

 Navios Maritime Midstream Partners LP (NAP) on Wednesday reported fourth-quarter profit of $9.1 million. On a per-share basis, the company said it had profit of 44 cents.   The operator of contracted crude oil tankers posted revenue of $25.8 million in the period


Dry Bulker Business Down, Says MOL

Dry Bulker. By Mitsui O.S.K. Lines

 In the dry bulker business, the market is deteriorating to a new record low due to the imbalance of fleet supply and demand, along with stagnant cargo trade resulting from the slowdown in China’s economy since last fall, says Mitsui O.S.K. Lines, Ltd.  


Royal Caribbean Posts 4Q Profit

Photo: Royal Caribbean Cruises Ltd

 Royal Caribbean Cruises Ltd reported 2015 results and provided guidance for 2016. Continuing on its Double-Double trajectory, the company’s adjusted earnings for 2015 were $4.83 per share – up 42% over 2014, and are expected to further increase to $5.90 – $6.10 in 2016.


Conrad Industries 2Q Revenue Shrinks

Conrad Shipyard Puerto Rico

  Conrad Industries, Inc.  announced today its second quarter and six months 2015 financial results and backlog at June 30, 2015. For the quarter ended June 30, 2015, Conrad had net income of $1.2 million and earnings per diluted share of $0.21 compared to net income of $6


CNOOC Profits Nosedives, Eyes South China Sea

Photo: Cnooc Ltd

 Cnooc Ltd., China’s biggest offshore oil and gas explorer, posted a 56 percent decline in profit for the first half of this year.   Net income dropped to 14.73 billion yuan ($2.3 billion), or 0.33 yuan a share, from 33.59 billion yuan, or 0


Tsakos Fixes Three LR2s on Timecharter

Photo: Tsakos Energy Navigation Ltd

 Crude, product and LNG tanker operator Tsakos Energy Navigation Ltd (TNP) announced the charter for an average of 36-months per vessel for its three LR2 Aframax tankers to a major European oil concern for crude trading operations. The total gross revenues from these three fixtures are


Mitsui O.S.K. Lines Revises Business Outlook

Photo: Mitsui O.S.K. Lines

 Looking at the Company’s business performance for the first half of FY2015, operating income and ordinary income improved as the tanker division enjoyed favorable market conditions, backed by a decline in bunker prices, says Mitsui O.S.K. Lines (MOL).  


Gulf Navigation Posts 123pct Profit Growth

Photo: Gulf Navigation Holding

 Dubai-based Gulf Navigation Holding (Gulfnav), a leading maritime and shipping company, has reported a substantial 123 per cent profit growth at the end of the third quarter of 2015 compared to the same period the previous year.  


ICTSI 9M Profts Above Expectations

Photo International Container Terminal Services, Inc.

  International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the first nine months of 2015 posting revenues from port operations of US$792.0 million, an increase of two percent over the US$779


Overseas Shipholding Profits Up by 31%

Image: Overseas Shipholding Group

 Overseas Shipholding Group, Inc. (OSG, a provider of oceangoing energy transportation services, reported results for the quarter ended March 31, 2015.    Adjusted EBITDA was $113.7 million, up 31% from $86.6 million in the same period in 2014.  


Diana Shipping Nets $ 17.4 mln 3Q Loss

Courtesy Diana Shipping

  Diana Shipping Inc. today reported a net loss of $17.4 million and net loss attributed to common stockholders of $18.8 million for the third quarter of 2015, compared to net income of $7.7 million and net income attributed to common stockholders of $6


Frontline Reports Strongest 3Q

Frontline has one of the worlds largest fleets of VLCC and Suezmax tankers Credit Frontline

  * Frontline achieved net income attributable to the Company of $17.4 million, or $0.09 per share, for the third quarter of 2015 and net income attributable to the Company of $65.9 million, or $0.42 per share, for the nine months ended September 30, 2015.


Carnival's Earnings Up 40%

Image by Carnival Corporation

  Carnival Corporation reported a 40 percent increase in its results for the full fiscal year ended November 30. Strong operational execution delivered $0.25 per share higher earnings than the mid-point of the company’s full year 2015 December guidance, despite a $0


GTT Confirms Targets for 2015 and 2016

Image Courtesy GTT

  GTT (Gaztransport & Technigaz), the world leader in design and engineering of containment systems for maritime transportation and storage of LNG (Liquefied Natural Gas), confirms its targets for 2015 and 2016. In an environment which is still contrasted and in light of the current






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright