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20 Aug 2020

MarTID 2020: Maritime Training Budgets Continue to Rise

Training budgets for seafarers continue to rise around the world, and seafarers themselves increasingly are paying the price, according to the MarTID 2020 Training Practices Report.Responses (278) to the 2020 MarTID report, the third in the series, rose 60% versus 2019, and again included insights from seafarers (accounting for 53% of the response), vessel operators (24%) and METIs (23%).The survey for MarTID 2020 was concluding just as COVID-19 was starting to spread rapidly…

25 Jan 2017

Navios Maritime Midstream Posts 4Q Profit

Maritime Midstream Partners LP (NAP), an owner and operator of tanker vessels, has reported fourth-quarter earnings of $6 million. On a per-share basis, the company has a net income of 28 cents. The operator of contracted crude oil tankers posted revenue of $22.8 million in the period. For the year, the company reported profit of $24.9 million, or $1.19 per share. Revenue was reported as $91.8 million. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Midstream stated “We are pleased to report results for the full year and fourth quarter of 2016. For the full year, we reported $24.9 million of net income and $66.2 million of EBITDA. For the fourth quarter, we recorded $6.0 million of net income and $16.4 million of EBITDA.

25 Oct 2016

Sembcorp Marine Swings to Loss in Q3

Photo: Sembcorp Marine

Singapore's Sembcorp Marine Ltd swung to a loss in the third quarter and the rig builder's revenue was hurt by customers deferring rig deliveries amid a protracted downturn in the oil and natural gas market. The company posted a net loss of S$21.8 million ($15.7 million) for the three months ended Sept. 30, compared with a net profit of S$32.1 million a year ago. It said the bottomline was hurt by higher financing costs, share of losses from associates and foreign exchange impact. The company, majority-owned by industrial conglomerate Sembcorp Industries Ltd, said revenue dropped 21 percent.

14 Dec 2015

As Oil Plunges, Traders Generate Record Earnings

Oil traders are profiting handsomely from a crude price crash to near an 11-year low, even as it forces energy companies around the globe to slash costs and postpone projects. From listed giant Glencore through unlisted Swiss privately-held Trafigura, to the trading desks of majors BP and Shell, traders have often done well in times of oil price downturns, and markedly so this time around. On Monday, Trafigura, which trades roughly 3 percent of global oil, reported record earnings just days after Glencore said it was sticking to its trading earning guidance even though it cut production at some mines and reduced inventories. BP and Shell…

10 Nov 2014

As Oil Prices Drop, Rigs Go Off-Line

Photo courtesy of Transocean

Transocean Ltd, the owner of the world's largest offshore drilling fleet, said it was likely to retire additional rigs as the company continued to face pressure due to slowdown in an oversupplied rig market. The drilling contractor's shares rose as much as 3 percent in early trading after the company reported better-than-expected quarterly results on Monday. The recent slide in oil prices has weighed on demand for offshore services as oil and gas producers cut costs. Day rates…

09 Jan 2013

National Shipbuilding Research Program – All Panel Meeting

Please join us April 23-25, 2013 in Charleston, SC for the next NSRP All Panel Meeting. The All Panel Meeting brings together NSRP’s eleven Ship Production Panels to share strategies, discuss new technologies and report results in reducing the cost of building and repairing Navy ships. The meeting will take place at the Charleston Marriott. Room block details are listed below. Please note that space is limited; early meeting registration and hotel reservation are strongly recommended. *This rate includes free parking and wireless internet for guests! For those planning an extended stay in Charleston (up to 3 days pre/post meeting), please contact Elizabeth McDowell if you have any difficulty making a reservation at the room block rate. A detailed agenda is currently being developed.

24 Apr 2008

ACL Named to EPA's National Environmental Performance Track Program

American Commercial Lines Inc. (ACL) announced that its Transportation Services Division has been named as one of 42 new members of the United States Environmental Protection Agency's (EPA) National Environmental Performance Track program. Membership is awarded to private and public facilities that have a strong record of environmental compliance, set three-year goals for continuous improvements in environmental performance beyond their legal requirements, have internal systems in place to manage their environmental impacts, engage in community outreach, and consistently report results. ACL is the first marine transportation company to obtain membership in the program.

07 Jan 2003

Dockworkers Vote on Contract

West Coast dockworkers began voting yesterday on a contract deal that was reached after labor disputes. ILWU last month suggested that the union approve the six-year deal that boosted wages and benefits, despite potential job losses due to emerging technology. The union plans to report results of the vote on January 22. If approved, the deal would go into effect immediately. The deal will allow employers to implement new technology, which could result to an estimated 440 to 500 job losses, but would give the union control over remaining positions and any new ones created with the new technologies.

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