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Teekay Tankers Misses 4Q Profit forecasts

Teekay Tankers vessel in Port Said Egypt  Courtesy Teekay Tankers

Teekay Tankers Ltd. reported adjusted net income attributable to its shareholders of $48.5 million, or $0.31 per share, for the quarter ended December 31, 2015, compared to $18.6 million, or $0.21 per share, for the same period in the prior year. The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share. The increase is primarily due to stronger spot tanker rates in the fourth quarter of 2015 compared to the same period in the prior year and an increase in fleet size related to the acquisition of 17 modern, mid-size tankers during 2015 and the expansion of the Company's chartered-in tanker portfolio in 2014 and 2015. Adjusted net income attributable to shareholders excludes a number of specific items that had the net effect of increasing net income attributable to shareholders by $3.9 million, or $0.03 per share, and by $1.7 million, or $0.01 per share, for the three months ended December 31, 2015 and 2014, respectively. Including these items, the Company reported, on a GAAP basis, net income attributable to its shareholders of $52.5 million, or $0.34 per share, and $20.3 million, or $0.22 per share, for the three months ended December 31, 2015 and 2014, respectively. Net revenues(3) were $159.3 million and $77.4 million for the three months ended December 31, 2015 and 2014, respectively.


Carnival Profit More than Doubles

Carnival Liberty (Photo courtesy of Carnival  Corp)

Carnival Corp, the world's largest cruise operator, said its quarterly profit more than doubled as costs fell. Net income rose to $106 million, or 14 cents per share, in the second quarter ended May 31, from $41 million, or 5 cents per share, a year earlier. Excluding items, the company earned 10 cents per share. Revenue rose 4 percent to $3.63 billion. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Don


Teekay Reports 1Q Results

Teekay Corporation reported net income of $15.2m, or $0.21 per share, for the quarter ended March 31, 2008, compared to net income of $76.4 million, or $1.02 per share, for the quarter ended March 31, 2007. The results for the quarters ended March 31, 2008 and 2007 included a number of specific items (predominantly unrealized losses relating to foreign exchange translation and interest rate swaps) that had the net effect of decreasing net income by $45.6 million, or $0.62 per share, and by $7


Euroseas Q4 & Year End Report

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced its results for the fourth quarter of 2009 and year ended December 31, 2009. Fourth Quarter 2009 Highlights: - Net loss of $16.3 million or $0.53 loss per share basic and diluted on total net revenues of $16.5 million. The results include a $9.0 million loss from the sale of two vessels


Scorpio Tankers Confident in Future, Says Financial Report

Scorpio Tankers Inc. reported its results for the three and six months ended June 30, 2013. For the three months ended June 30, 2013, the company had an adjusted net income of $3.6 million, or $0.03 basic and diluted earnings per share, excluding a $0.3 million, or $0.00 per share of unrealized gain on derivative financial instruments. Including the unrealized gain on derivative financial instruments, the company had net income of $4 million, or $0.03 basic and diluted earnings per share


Caterpillar Q4 Revenue Dips 23 pct

Caterpillar Inc's quarterly revenue slumped 23 percent as weak commodity prices and slowing economic growth in developing countries hit demand for its products. The world's largest construction and mining equipment maker's total sales and revenue fell to $11.03 billion in the fourth quarter ended Dec. 31, from $14.24 billion a year earlier. Caterpillar reported a quarterly loss attributable to common stockholders of $87 million, or 15 cents per share


Euroseas Ltd. Declares Dividend

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and a provider of seaborne transportation for drybulk and containerized cargoes, announced that it has declared a dividend of $0.29 per common share for the third quarter of 2007. The dividend is payable on November 28, 2007 to all shareholders of record as of November 5, 2007. This dividend marks an increase of 16% from the prior quarter's dividend of $0.25 per share.


Excel Maritime to Acquire Quintana

Excel Maritime Carriers Ltd and Quintana Maritime Limited announced that Excel has agreed to acquire Quintana pursuant to a definitive merger agreement whereby Quintana would become a wholly owned subsidiary of Excel. Excel will pay $13.00 per share in cash per share of Quintana common stock and 0.4084 shares of Excel Class A common stock per share of Quintana common stock. In the event the average closing price of Excel’s Class


Teekay Corp. Reports Q2 Results

Teekay Corporation (Teekay or the Company) (NYSE:TK) reported an adjusted net loss attributable to stockholders of Teekay(1) of $21.8 million, or $0.30 per share, for the quarter ended June 30, 2009, compared to adjusted net income of $77.1 million, or $1.05 per share, for the same period of the prior year. Adjusted net income (loss) attributable to stockholders of Teekay excludes a number of specific items which had the net effect of increasing net income by $181.2 million (or $2


ST Engineering Injects Capital into Leeboy India

  Singapore Technologies Engineering Ltd (ST Engineering) announced today that its land systems arm, Singapore Technologies Kinetics Ltd has injected S$4.2m (equivalent to INR200m) into its wholly owned subsidiary, SDG Kinetics Pte Ltd (SDGK), for flowthrough capital injection into LeeBoy India Construction Equipment Private Limited (LeeBoy India) to provide working capital for LeeBoy India’s operations in India.


DryShips Posts Profit for 1Q

Photo: DryShips Inc

 Greece-based DryShips Inc. (DRYS) reported first-quarter of 2016 net income of $55.4 million, after reporting a loss in the same period a year earlier.    The company said it had profit of $2.05 per share. Losses, adjusted for non-recurring gains, came to 78 cents per share.


Pioneer Marine Sink Deeper into the Red

Photo Pioneer Marine Inc.

Pioneer Marine Inc. and its subsidiaries (OSLO-OTC: PNRM) ("Pioneer Marine," or the "Company") a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the first quarter ended March 31, 2016.


Euroseas Faces Headwinds, Reports Loss

Image courtesy of Euroseas

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period ended March 31, 2016. First Quarter 2016 Highlights:


Höegh LNG Turns to Profit in 1Q

PGN FSRU Lampung  Courtesy Hoegh

Höegh LNG returned to profit following a Profit after tax of USD 6.3 million for the first quarter of 2016, up from USD 4.0 million net loss in the fourth quarter 2015. The company’s EBITDA reached $26.6 million for the first quarter of 2016, up from $24


ST Engineering Injects $66m into VT Systems

Courtesy ST Engineering

Singapore Technologies Engineering Ltd (ST Engineering) today announced that it has injected US$66m (approximately S$89m) into the capital of its US Headquarters, Vision Technologies Systems, Inc. (VT Systems), for the repayment of bank loans


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  


Royal Caribbean's Revenue up 5.6%

Ovation of the Seas (Photo: Royal Caribbean)

Royal Caribbean Cruises Ltd reported a 5.6 percent rise in quarterly revenue, helped by higher passenger ticket revenue and onboard spending, sending the company's shares up 4 percent in premarket trading. Royal Caribbean also raised its full-year earnings forecast to $6.15-$6


Chevron Suffers Loss, Plans Job Cuts

Photo: Chevron Corp

 Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016, up from a previously stated goal.  


ExxonMobil 1Q Profits Plunge 63%

Rex W. Tillerson, chairman and chief executive office ExxonMobil

Highlights   * Earnings of $1.8 billion decreased 63 percent from the first quarter of 2015.   * Earnings per share were $0.43 assuming dilution.   * Cash flow from operations and asset sales was $5 billion, including proceeds associated with asset sales of $177 million.


Total to Acquire Saft Group

Courtesy Total

Total and Saft announced today that, following the signature of an agreement between the companies, Total filed a friendly tender offer on all of the issued and outstanding shares in the capital of Saft with the French Financial Markets Authority (Autorité des


Philly Shipyard to Pay Dividend

Photo Philly  Shipyard

Philly Shipyard ASA has provided key information relating to the cash dividend to be paid by PHLY Dividend amount: USD 3.75 per share Declared currency: USD Last day including right: 12 May 2016 Ex-date: 13 May 2016 Record Date: 18 May 2016


ASL Marine Secures New Contracts

 Photo:  ASL Marine Holdings Ltd

 Shipbuilder ASL Marine  has secured a total S$156 million worth of contracts from its shipbuilding, shiprepair & conversion, shipchartering and dredging engineering divisions.   The contracts secured are mainly from repeat customers in the region as well as in the Middle East


Conrad Declares Dividend

Photo Conrad Industries, Inc.

Conrad Industries, Inc. which provides both repair and new construction services at its five shipyards located in southern Louisiana and Texas, announced today that its Board of Directors has declared a quarterly dividend of $0.10 per share of common stock


Seaspan Secures $540 Mi Financing

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Issues $140 Million of 6.95% Series F Cumulative Convertible Perpetual Preferred Shares, Renews $150 Million Unsecured Revolving Loan and Enters into $250 Million Lease Financing HONG KONG, CHINA--(Marketwired - May 18, 2016) - Seaspan Corporation ("Seaspan") (NYSE:SSW) announced


Teekay Tankers Declares Dividend

Photo: Teekay Tankers

The board of directors for Teekay Tankers Ltd. has declared a cash dividend of $0.09 per share for the quarter ended March 31, 2016.   The cash dividend is payable on June 3, 2016 to all shareholders of record as at May 30, 2016.






 
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