Subsea contractor Stolt Comex Seaway S.A. reported results for the fourth quarter and the year ended Nov. 30, 1999. Net loss for the latest quarter was $1.5 million, on net operating revenue of $149.4 million, compared with net income of $9.6 million, on net operating revenue of $223.9 million for the same period last year. Net income for the year ended Nov. 30, 1999 was $16.2 million, on net operating revenue of $640.7 million, compared with a net income of $57.3 million, on net operating revenue of $649.8 million for the same period in 1998.
Barge operator Kirby Corp. said its third-quarter profit would miss Wall Street expectations by about 10 percent because of a fall off in refined petroleum shipments and higher fuel prices. Houston-based Kirby, which operates a fleet of barges and towing vessels transporting chemicals, refined petroleum and agricultural goods on U.S. inland waterways, said in a statement its third-quarter profit would be between 36 cents and 38 cents per share
Royal Caribbean Cruises Ltd. announced net income for the third quarter of $159.2 million, or $0.82 per share. Third quarter earnings were negatively impacted by $21.3 million due to lost revenues and extra costs directly associated with passengers not being able to reach their departure ports during the weeks following September 11. Also included in the reported results is an additional $15.4 million in costs associated with business decisions taken in the aftermath of the attacks
Four newbuilding suezmaxes (including two shuttle tankers) chartered for a combined 53 years with minimum total revenues of $720 million Fleet utilization at 99% FIRST QUARTER HIGHLIGHTS * Voyage revenues of $99.2 million * Net income of $9.3 million * Earnings per share (diluted) of $0.20 * Average daily operating expenses per vessel decreased by 11.1% to $7,482 * Sale of aframax tanker with a gain of $5.8 million * Fleet utilization of 99%
Concordia Maritime released its Interm Report 1, January 1 to March 31, 2013. Operating result of SEK 15.7 million Improved income for vessels on the spot market Strongest product tanker market since 2008 Total income, MSEK 127.9 EBITDA, MSEK 51.2 Operating result before impairment, MSEK 15.7 Impairment, MSEK 0.0 Operating result after impairment, MSEK 15.7 Result after tax, MSEK 7.6 Result per share, SEK 0.16 EBITDA, MUSD 8.0 Available liquid funds, MSEK 427.0
CEVA Holdings LLC, one of the world’s leading non‐asset based supply chain management companies, today reported results for the three months ended 30 June 2014. Xavier Urbain, CEO of CEVA, said, “Our performance improvement coupled with the strong increase in our new business pipeline points to the company being on the right track for growth. Since joining CEVA in January, I have focused on strengthening the executive management team
Biofriendly Corporation announced the completion of a report by MAN B&W. The report shows the details of an engine maintenance inspection on a 14,063 ton container ship powered by a MAN B&W two-stroke engine. The test was completed after Green Plus had been present in the engine for nearly one year. The report confirms that Green Plus does not cause harm to a Man B&W 2 stroke engine. Although MAN B&W has a policy that does not allow the endorsement of individual products
Transocean Ltd. issued a financial report today. The company's reported net income attributable to controlling interest is $155 million, or $0.48 per diluted share, for the three months ended June 30, 2011. The results compare to net income attributable to controlling interest of $715 million, or $2.22 per diluted share, for the three months ended June 30, 2010. To read the entire report, visit http://www.deepwater.com/fw/main/News-748.html.
Stolt-Nielsen reports (unaudited) results for Q2 & first half year 2012 Net profit attributable to shareholders in the second quarter was $37.0 million, with revenue of $538.8 million, compared with $8.0 million and $505.7 million, respectively, in the first quarter of 2012. Net profit attributable to shareholders for the first six months was $45.0 million, with revenue of $1,044.4 million, compared with $63.6 million and $986.6 million, respectively, in the first half of 2011.
BP today announced its financial results for the first quarter of 2014. Underlying replacement cost profit1 for the quarter was $3.2 billion, compared with $2.8 billion for the previous quarter and $4.2 billion for the first quarter of 2013. Operating cash flow in the quarter was $8.2 billion. The company also announced a quarterly dividend of 9.75 cents per ordinary share to be paid in June, 8.3% higher than a year earlier
COSL Drilling Europe is reportedly being forced to make 229 rig staff redundant as a result of Statoil’s decision to cancel the charter for semi-submersible unit COSL Pioneer. Statoil announced the termination of contract since 8 October 2014
Intensifying crackdown on corruption China’s National Audit Office released an audit report for state-run shipping conglomerate Cosco Group in which it has uncovered substantial financial irregularities. The report found that Cosco had falsely left out a sum of RMB298m ($48m)
China COSCO Holdings Co Ltd says it has received ship scrapping subsidies for about 3.96 billion yuan ($638.71 million). It came through China Ocean Shipping, the controlling shareholder of the company, for the decommissioning and upgrading of vessels.
Stolt-Nielsen Limited today reported unaudited results for the second quarter ended May 31, 2015. Net profit attributable to shareholders in the second quarter was $42.5 million, with revenue of $500.7 million, compared with a net profit of $38.7 million, with revenue of $487
The Baltic and International Maritime Council (BIMCO) informs it has continued its support for the Oceans Beyond Piracy (OBP) “The State of Maritime Piracy” report, which addresses how piracy is affecting the shipping industry – and beyond.
The world’s largest listed crude-tanker operator Euronav is planning to buy 18 tankers for around $1.2 billion in one of the biggest deals involving oil carriers this year, reports WSJ. The reports says that Euronav is in advanced discussions with Greece’s Metrostar to
A fire broke out due to a suspected leakage in an oil pipeline passing through a land owned by the Mumbai Port Trust (MbPT) in Wadala in central Mumbai, but no one was injured. Fifteen fire tenders and 12 water tankers eventually doused the flames after a five-hour fight around 11pm
Two barges that drifted against piers of the Starved Rock Dam in Utica, Illinois Sunday afternoon have been safely recovered, the U.S. Coast Guard (USCG) reported. One of the barges, carrying corn, was recovered Sunday evening, while the second barge, carrying sand
Electromagnetic Geoservices ASA (EMGS) announce that the Company implements further cost reductions reflecting the challenging market conditions in the oil service industry. As communicated in the first quarter report, the Company initiated cost reduction measures in the beginning
The Chinese government has approved a set of technical guidelines that require all civilian shipbuilders to ensure that their new vessels are suitable for military use in an emergency, the China Classification Society has revealed, reports Reuters.
Russian Arctic offshore drilling set for 2015 to be postponed to 2016 or later - Novak Russia's Energy Minister Alexander Novak said on Thursday that Arctic offshore drilling planned for this year will be postponed until 2016 or later.
The Greek economy’s foreign currency revenues from shipping activities expanded 9.04 percent last year from 2013, reaching 13.18 billion euros, in spite of the country's financial woes, according to the annual report of the Association of Greek Shipowners (EEE).
Abu Dhabi Ocean Racing had the Volvo Ocean Race trophy within their grasp as the seven boats entered the final lap on Saturday heading for Gothenburg after a one-day ‘pit-stop’ in The Hague, reports the Khaleej Times.
The United States marine casualty reporting and investigation processes as administered by the U.S. Coast Guard are seriously flawed and in need of major overhaul. These processes have been broken for years, yet minimal efforts have been made to address the root causes
The Preventing Labor Union Slowdowns Act of 2015 (PLUS Act) was introduced last Thursday in the United States Senate to help prevent the type of maritime labor slowdowns at the Port of Portland and 28 other West Coast ports that disrupted domestic and international trade and nearly brought