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Stolt Comex Reports Results

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.


Kirby Corp. Profits Disappoint

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 Announce Third Quarter Results

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


CEVA Holdings 2Q, 2014 Results

  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


Tsakos Energy Navigation Reports Earnings Of $0.20 Per Share

TSAKOS.gif

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 Releases 2013 Q1 Report

Concordia Maritimes President, Hans Norén. (Photo: Concordia Maritime)

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


MAN B&W Completes Engine Assessment Report on Green Plus

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


Stolt-Nielsen Reports Strengthened Financial Performance

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 Reports Q1 Results; Increases Dividend

BP Group Chief Executive Bob Dudley

  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


Transocean Issues Financial Report

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.


Sound Oil Announce 2014 Interim Results

Simon Davies, Chairman  of Sound Oil

  Sound Oil, the European / Mediterranean focused upstream oil and gas company, announced its unaudited interim results for the six months ended 30 June 2014.   Highlights   *     Introduction of cornerstone institutional investor following the year-end at a


UK Chamber Stance Neutral on Scottish Independence

Scots flag: File image

The UK Chamber of Shipping is taking a neutral position in the Scottish independence debate and has given both the Yes and Better Together sides space on its website to argue their respective positions in articles focusing on the future of Scotland's shipping industry


Leaky Equipment, Not Fracking, Behind Tainted US Water -Study

The contamination of water supplies near U.S. shale gas fields appears to be the result of leaky cement wells and casings and not the controversial production technique of hydraulic fracturing, according to a study released on Monday. So-called "fracking" is a way of extracting


New Generation of Turbochargers Announced

MAN Diesel & Turbo said its new TCT Turbocharger for two-stroke engines promises the best overall package

MAN Diesel & Turbo has announced the development of a new turbocharger series specifically matched to the requirements of two-stroke engines. For the first time ever, MAN Diesel & Turbo will develop a turbocharger series exclusively for two-stroke engines that is especially designed and


Pesticides a Concern for Aquatic Life in U.S. Rivers & Streams

Pesticide graph

  Levels of pesticides continue to be a concern for aquatic life in many of the Nation’s rivers and streams in agricultural and urban areas, according to a new USGS study spanning two decades (1992-2011).  Pesticide levels seldom exceeded human health benchmarks.


DNV GL: Beyond Condition Monitoring in the Maritime Industry

Photo: DNV GL

Moving from a regime of scheduled rule-based maintenance to a data-driven risk-based regime can lead to more accurate and timely maintenance resulting in increased safety, lower costs and greater availability of ship systems. A new report “Beyond condition monitoring in the maritime


MAN's PrimeServ Clinches DOF Service Deal

 Pictured at the signing ceremony: (standing, from left) Mikael Adler – Managing Director, MAN Diesel & Turbo, Norway; Serghei Nastas – MAN PrimeServ O&M Sales Manager; Dr. Stephan Timmermann – Member of Executive Board, MAN Diesel & Turbo; Stefan Eefting – Vice President, Head of MAN PrimeServ; (seated, from left) Lars-Heine Njåstad – Chief Procurement Officer, DOF; and Wayne Jones – Senior Vice President, Head of MAN PrimeServ Diesel

SMM signing ceremony commits DOF to five-year Framework Service Agreement At a signing ceremony at SMM, the international marine trade fair in Hamburg, MAN PrimeServ, MAN Diesel & Turbo’s service division, signed a service framework agreement with DOF ASA


Search Continues for Lost 1914 Submarine

Royal Australian Navy Minehunter, HMAS Yarra, has been undertaking an underwater search off Papua New Guinea for HMAS AE1, the Navy’s first submarine. AE1 was lost without a trace on September 14, 1914, with her full crew of three officers and 32 sailors.


Grounded Freighter Refloated in Straits of Mackinac

The American Spirit, a 1004-foot freighter that had been hard aground in the Straits of Mackinac since Thursday afternoon, was refloated early Friday morning. The vessel is making way to St. Ignace, Michigan, where it will anchor. Coast Guard marine inspectors and American Bureau Shipping


Accident Claims One in BP North Sea Incident

A man has died after an incident on a North Sea oil platform owned by BP Plc, the company said on Thursday. "BP is deeply saddened to confirm that an offshore worker has died following an incident on the Unity platform," BP said in a statement


Norwegian to Buy Prestige Cruises in $3b Deal

Photo: Prestige Cruises

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion deal to expand its high-end luxury cruise offerings. Shares of Norwegian Cruise, the world's third-largest cruise operator


Aker Solutions Update on Company Hive-Off

Image courtesy of Aker Solutions

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split of the business at the end of September. Previous pro forma financial information was disclosed in the information memorandum of


Russia's Shipping Major Reports Strong 1H 2014

Tankship: Photo SCF

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial and operating results for the six months ended 30 June 2014.   Highlights:


Nanotechnology & Big Data: New Review

Technology abstract: File image

A report commissioned by the Lloyd’s Register Foundation, reviewing the potential implications of nanotechnology on the safety and performance of engineering assets and the infrastructure on which modern society relies on, finds that nanotechnology will have a far reaching impact on almost


Clarksons PLC Perform Strongly in 1H 2014

CEO Andi Case: Photo Clarksons

Leading shipping services group, Clarksons PLC reports strong strong financial performance in the first half of 2014. Financial Results Clarksons increased revenues by 25% to £111.7m in the first six months of 2014 (2013: £89






 
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