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Quarter 2011

Transocean Reports 4Q & FY 2011 Results

Transocean Ltd. reported a net loss attributable to controlling interest of $6.119 billion, or $18.62 per diluted share, for the three months ended December 31, 2011. The results compare to a net loss attributable to controlling interest of $799 million, or $2.51 per diluted share, for the three months ended December 31, 2010.   • Revenues improved eight percent in the fourth quarter to $2.422 billion compared to $2.242 billion in the third quarter 2011,   • Fourth quarter 2011 net loss attributable to controlling interest was $6.119 billion, which included $ 6.176 billion of certain net unfavorable items including an estimated goodwill impairment of $5.2 billion and an estimated loss contingency of $1.0 billion associated with the Macondo Well incident, compared to a net loss attributable to controlling interest of $71 million in the third quarter 2011, which included $81 million of certain net unfavorable items,   • Revenue efficiency(1) was 91.9 percent in the fourth quarter, up from 89.5 percent in the third quarter 2011,   • Fleet utilization(2) was 61 percent in the fourth quarter, up from 58 percent in the third quarter 2011,   • Excluding $1.0 billion for estimated loss contingencies associated with the Macondo Well incident, fourth quarter 2011 operating and maintenance expenses were $1.565 billion, up from $1.540 billion in the third quarter 2011,  


Transocean Reports Q1 2011 Results

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Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today reported net income attributable to controlling interest of $310 million, or $0.96 per diluted share, for the three months ended March 31, 2011. The results compare to net income attributable to controlling interest of $677 million, or $2.09 per diluted share for the three months ended March 31, 2010. First quarter 2011 results included the following items, after tax, that resulted in a net positive impact of approximately $139 million


Hornbeck Offshore Announces Q1 2011

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COVINGTON, La., April 21, 2011 /PRNewswire via COMTEX/ -- Hornbeck Offshore Services, Inc. (NYSE: HOS) announced today that it will release its first quarter 2011 financial results at approximately 6:00 a.m. Eastern on Thursday, May 5, 2011. In conjunction with the release, the Company has scheduled a conference call, which will be broadcast live over the Internet, on Thursday, May 5, 2011 at 10:00 a.m. Eastern (9:00 a.m. Central). What:    


Hornbeck Offshore Announces Q1 2011 Results

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Hornbeck Offshore Services, Inc. (NYSE:HOS) announced today results for the first quarter ended March 31, 2011. Following are highlights for this period and the Company's future outlook: Lack of drilling permits in Company's core geographic market, the GoM, results in net loss for 1Q2011 Recently awarded long-term time charters for two additional DP-1 200 class new gen OSVs in Mexico Recently awarded four-year time charters for four additional DP-2 240 class new gen OSVs in


Statoil Reports Dramatic Increase in Net Income

Statoil's second quarter 2011 net operating income was NOK 61 billion, a 129% increase compared to NOK 26.6 billion (nearly $11.3 billion) in the second quarter of 2010. The quarterly result was mainly affected by a 32% increase in the average prices for liquids measured in NOK, a 28% increase in average gas prices, a NOK 8.8 billion (over $1.6 billion) gain related to the 40% Peregrino divestment and an 18% decrease in lifted volumes, when compared to the same period last year.


Crude Carriers Corp. Reports 2Q Resultes

Crude Carriers Corp. (NYSE: CRU), today reported its financial results for the second quarter of 2011. The Company reported a net loss for the quarter of $7.5 million or $0.48 per share, which compares with a $0.37 net income per share from the second quarter of 2010. The Company’s reported net loss for the quarter includes $1.7 million in general and administrative expenses related to the definitive merger agreement with CPLP and the proxy statement on Form F-4 filed with the Securities


Farstad Shipping Awarded Charter Contracts

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AHTS Far Sound (2007, UT 712L, 16.000 BHP), AHTS Far Sword (2006, UT 712L, 16.000 BHP) and AHTS Far Scimitar (2008, UT 712L, 16.000 BHP) have been contracted by Hess to support their drilling program in Australia for at least 10 months commencing in May. In the North Sea PSV Far Service (1995, UT 745, 4.680 DWT) has been awarded a 24 months firm contract by BP commencing in July with 2x6 month options. PSV Far Superior (1990, UT 705L, 3


Globus Maritime Limited Reports Financial Results

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Globus Maritime Limited (NASDAQ: GLBS), a dry bulk shipping company, reported its unaudited consolidated operating and financial results for the three-month period ended March 31, 2011. The Company also declared a quarterly cash dividend of $0.16 per share for the three-month period ended March 31, 2011. This is the third quarterly cash dividend declared by the Company’s Board of Directors since the listing of its common shares on the NASDAQ Global Market in November 2010


Star Bulk Carriers Corp. Reports Q1 Results

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Star Bulk Carriers Corp. (Nasdaq: SBLK),a global shipping company focusing on the transportation of dry bulk cargoes, today announced that its Board of Directors declared a cash dividend of $0.05 per outstanding share of the Company's common stock for the three months ended March 31, 2011. The dividend is payable on or about June 1, 2011, to shareholders of record as of May 23, 2011. The Company also announced today its unaudited financial and operating results for the first quarter


LPG Market Rebounds in 3Q: Exmar

EXMAR NV today gave its trading update for the 3Q 2011, numbers which show broad improvement in shipping rates and prospects. The operating result (EBIT) of the LPG fleet in the third quarter was $2.3 million (compared to $1.8 million for the third quarter of 2010), including 72 offhire days. EXMAR’s fleet continued to be supported by its contract portfolio during the third quarter. The coverage for the balance of this year is about 90% and 2012 is already covered for 58% at improved


Safe Bulkers Reports 4Q, 12-Month 2012 Results; Declares Dividend

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three and twelve month period ended December 31, 2012. The Company’s Board of Directors also declared a quarterly dividend of $0


Another Bulkship Owner Reports 2012 Profits Imploded

Bulk Carrier Amphitrite: Photo credit Diana Shipping

Greece's Diana Shipping reports fourth quarter and year ended 31, December, 2012 results. Diana Shipping Inc. a shipping company specializing in the ownership and operation of dry bulk vessels, reported net income of US$ 5.0-million for the fourth quarter of 2012, compared to net income of US$ 20


US Shipbuilder Holds Course in 2012

Conrad Industries announces its 2012 financial results and also the addition of new business during Q1 2013. For the quarter ended December 31, 2012, Conrad had net income of $8.0 million and earnings per diluted share of $1.33 compared to net income of $6


Has Shipbuilding Hit Bottom?

The shipbuilding industry shows signs of bottoming out with the global market index pointing to an upturn, & Korean players receiving more orders from abroad. Citing  Clarkson Research Services, the Korea Times reports that a total of 277 vessels were ordered in the first quarter of the


STX Europe Q3: OSV Keeps Good Margin

Cruise & Ferries remain challenging. Highlights: STX Europe achieved operating revenues of NOK 4 480 million in third quarter 2012, a decrease of NOK 763 million compared to corresponding period 2011 (Q3 2011: NOK 5 243 million). Profit before tax for third quarter 2012 of NOK 250 million


Greece's Safe Bulkers Weather Challenging Financial Conditions

Bulk carrier owners & charterers Safe Bulkers, Inc. reports results for the third quarter and the first nine months of 2012, pays reduced dividend. Extract from Q3 2012 results Net revenue for the third quarter of 2012 increased by 10.1% to $46.8 million from $42


Diana Containerships Continues Profitable in Latest Financial Report

Diana Containerships Inc. container ship owners & operators report financial results in Q3 & first nine months trading in 2012. Extracts from the report follow: The company reported net income of $1.6 million for the third quarter of 2012, compared to net income of $2


CMA GCM: Third-Quarter 2012 Results

Very good operating performance,  with profitability close to CMA CGM’s historic highs. The Board of Directors of France’s CMA CGM, the world’s third largest container shipping group, met under the chairmanship of Jacques R


Tsakos Energy Financial Results

Nine new charters with minimum revenue of $220 million over a 2.4 year period Operating income at $11.9 million (a 159% increase) Nine-Month Hightlights Voyage revenues of $293.7 million Positive EBITDA generated from all operational ships totalling $87.7 million


Bahri Reports 2012 Annual Profits Up

A Bahri Chemical Tanker: Photo courtesy of Bahri

Bahri announce the Interim Consolidated Financial Results for the 12-month period ended 31st December, 2012. The National Shipping Company of Saudi Arabia (Bahri) report that Net profit, for the 12-months totaled SAR 500.4 million compared to SAR 287


Kirby Announces 4Q & 2012 Year Financials

Kirby Corporation today announced net earnings attributable to Kirby for the fourth quarter ended December 31, 2012 of $57.9 million, or $1.03 per share, compared with $56.2 million, or $1.00 per share, for the 2011 fourth quarter.  Revenues for the 2012 fourth quarter were $512


Matson Report Solid Financial Profits

Matson, Inc. a leading U.S. carrier in the Pacific, did well in Q4 2012 and the whole year; believes it can do better. Consolidated revenue for the fourth quarter 2012 was $398.3 million compared with $374.9 million reported for the fourth quarter 2011


Kværner Profits Slip, Bulging Order Book

Kværner ASA issue fourth quarter and preliminary annual financial results 2012. Kvaerner reported operating revenues of NOK 2 930 million in the fourth quarter 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 119 million


Kværner ASA : Q4 & Preliminary 2012 Results

Kværner reported operating revenues of NOK 2 930 million in the fourth quarter 2012. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to NOK 119 million, resulting in an EBITDA margin of 4.1 percent. The order backlog amounted to NOK 21 262 million.  


Aker Solutions Report Solid, Not Spectacular Financial Progress

Aker Solutions ASA release fourth quarter and preliminary annual results 2012. Aker Solutions reported revenues of NOK 12.0 billion and earnings before interest, tax, depreciation and amortisation of NOK 1.2 billion in the fourth quarter of 2012






 
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