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Reports First

NNS First Quarter EPS UP

Newport News Shipbuilding (NNS) reported net earnings of $21 million, or $.63 diluted share, for the first quarter of 2000. Earnings before interest and taxes (EBIT) for the quarter were $47 million, up from EBIT of $44 million in last year's first quarter. The company reported first quarter revenues of $469 million as compared to last year's figures of $430 million during the same period. This growth in revenue was attributable to gains in the construction and engineering segments. Construction revenues improved $25 million to $206 million as a result of advance planning work on the next aircraft carrier (CVN 77), as well as more activity on the Virginia-class submarine program. NNS finished a nine-month competition for the selection of the Warfare Systems Integrator for CVN 77 this past January. The expansion of the prime contractor role, which includes management of this process - previously performed by the Navy - the company will add approximately $500 million to the value of the construction contract.


Diamond Offshore's Profits Are Strong

Diamond Offshore Drilling Inc., a Houston-based marine oil and gas drilling contractor, on Tuesday reported a 24.7 percent rise in net profits, boosted by strength in all the company's business. The company posted first-quarter net income of $36.8 million, or $.27 a share, up from $29.5 million, or $.21 a share in the same period last year. Analysts on average were expecting the company to report first quarter earnings of $.23 a share.


CAE Reports First Quarter Results

CAE has reported earnings from continuing operations for the first quarter ending June 30, 2003, of C$15.1 million or 7 cents per share compared to C$37.4 million (or 17 cents per share) in the first quarter of the prior fiscal year. Consolidated revenue for the first quarter decreased 12 percent to C$242.9 million from the C$275.8 million generated in the prior year, while the C$2.2 billion backlog was constant at June 30 compared to March 31.


Tsakos Energy Navigation Reports 156% Increase in Q1 Profits

Photo: Tsakos Energy Navigation Ltd

 Greece-based Tsakos Energy Navigation Ltd (TEN) has reported first-quarter profit of $37.3 million from $14.6 million in Q1 2014 - a 156% Increase. On a per-share basis it has profit of 42 cents.   The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.   The oil and gas shipping company posted revenue of $114.3 million in the period, also surpassing Street forecasts


Golden Ocean: Worst Bulk Market Since 1980s

Dry bulk shipping firm Golden Ocean reported first-quarter earnings below forecasts on Thursday and said its market had gone from "bad to worse" with market conditions not seen in three decades. Golden Ocean, controlled by shipping tycoon John Fredriksen, said its made a net loss of $75.3 million in the first quarter, below expectations for a loss of $27 million, the result was weighed down by a $141 million impairment charge on its vessels.


China Merchants Profit up 29pct

Photo:  China Merchants Holdings (International) Co., Ltd

 While China’s ports continue to face growth pressure, the country’s largest port operator is reaping the rewards of years of investments in overseas projects.   China Merchants Holdings (International) reported first-half net profit rose 29 per cent to HK$2.78 billion  ($US 361 million)  from a year ago, after throughput gains at Chinese terminals exceeded China’s overall container growth rate and traffic through overseas facilities rose at a


ConocoPhillips Reports 1Q Results

ConocoPhillips reported first-quarter net income of $3,291 million, or $2.34 per share, compared to $2,912 million, or $2.05 per share, for the same quarter in 2005. Total revenues were $47.9b, versus $38.9 billion a year ago. During the quarter, the company reinvested 141 percent of its net income into the development of oil and gas resources and its global refining business, excluding the acquisition of Burlington Resources.


GulfMark Reports First Quarter Results and New Contract

GulfMark Offshore Inc.announced record net income for the first quarter of 2002 of $5.4 million, or $0.62 per share (diluted), on revenues of $29.8 million. This compares to net income of $2.6 million, or $0.31 per share (diluted), on revenues of $21.9 million in the first quarter of 2001. Bruce Streeter, president and COO of the Company, said, "We are very pleased with the results of the first quarter. Despite the usual seasonal slowdown and the lay-up of one of our smallest PSVs in the


Boat Sales Up in Q1 Reports Marine Products Corp

Marine Products Corporation Reports First Quarter 2012 Financial Results Marine Products is a leading manufacturer of fiberglass boats under two brand names: sterndrive and inboard pleasure boats by Chaparral, including H2O Sport and Fish & Ski Boats, SSi and SSX Sportboats, Sunesta Sportdecks, Xtreme Towboats, Signature Cruisers and Premiere Sport Yachts, and outboard sport fishing boats by Robalo. For the quarter ended March 31, 2012, Marine Products generated net sales of $37,849


Brazil's OSX Group Q2 2012 Financial Report

OSX Shipbuilding reports order book for construction of 21 vessels of various kinds, consolidated position in other offshore enterprises EBITDA of R$36,5 million in 1H12 and R$2,7 billion financing are highlights for the second quarter of 2012. OSX, an EBX Group Company which provides solutions for the offshore oil industry by means of integrated operations in shipbuilding, leasing of exploration and production (E&P) units, and operation and maintenance (O&M)


Japan's NYK Line Warns of $1.9 bln hit to Earnings

NYK Line may book losses as shipping slump slashes asset values. Nippon Yusen, Japan's biggest shipper by sales, warned it would book a $1.9 billion hit to first-half income, after the industry's deepening slump forced it to write down the value of container ships and other assets.


NYK Expects Loss of $1.9 Bln

Image: NYK Line

 The Japanese shipping operator Nippon Yusen Kabushiki Kaisha (NYK Line) will book an ‘extraordinary’ loss totaling 195 billion Japanese yen (U.S. $1.89 billion) for the interim period of its current fiscal year, forced by a deep slump in the shipping market to write down the


BIMCO Surveys Dry Bulk Terminal Performance

Image: BIMCO

 BIMCO is seeking to drive the improvement of standards for ships at dry bulk terminals across the world and has launched its first report on terminal performance.   Since 2015 BIMCO has been collecting feedback on the performance of port terminals in order to be able to report the


BIMCO Launches First Report On Global Dry Bulk Terminal Performance

Map: BIMCO

 Since 2015 BIMCO has been collecting feedback on the performance of port terminals in order to be able to report the results to members and, ultimately, to give further guidance to ships.    BIMCO has received over 400 feedback reports from bulk carriers on the performance of dry


Southeast Asia Turns into a Piracy Hot Spot

Map, Graphics: Courtesy of the ReCAAP Information Sharing Centre

 According to data from the International Chamber of Commerce’s International Maritime Bureau, pirate attacks in Southeast Asia hit a 12-year high in the first six months of 2015.   Indonesia suffered 54 attacks, the highest tally since 2003


Hapag-Lloyd Advances Listing Plans to September

German container shipping group Hapag-Lloyd aims to launch preparations for a stock market flotation in September, earlier than initially planned, four sources familiar with the transaction told Reuters on Thursday. That would permit the company's shares to trade on the Frankfurt stock exchange


Shanghai Port Logs Quarterly Profit Fall

Shanghai International Port Group Co Ltd, the operator of the world's busiest container port, reported its first fall in quarterly net profit in over a year, providing evidence of China's economic slowdown. China, the world's second largest economy, grew 6


Asia-Europe Box Freight Rates Slide 23%

Photo: Maersk Line

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 23 percent to $332 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.  


Saudi Shipper Bahri Q1 Profit Soars

file image: A VLCC transits the Suez Canal (Suez Canal Authority)

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 53.6 percent jump in first-quarter net profit on Monday. The company's net profit for the three months to Mar. 31 was 611.99 million riyals ($163.3 million), up from 398


Awilco LNG Reports Loss

Photo: Awilco LNG

 Oslo-based LNG shipping company, Awilco LNG, reported a first quarter freight income of US$8.9 million, down from $12.1 million in the same quarter the previous year.    The pure play LNG transportation provider  said that an oversupply of shipping in the carrier market


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.


Maritime Piracy: More "sophisticated and prevalent” around Gulf of Guinea

(Source: Oceans Beyond Piracy)

While the matter of maritime piracy has seemingly subdued from its high profile peaks of a few years ago, Stuart Edmonston, Head of Loss Prevention at UK P&I Club, together with Hellenic War Risks and Terra Firma Risk Management, highlight the growth of piracy in the Gulf of Guinea and


Piracy Drops to 21-year low - IMB

Courtesy IMB

Piracy and armed robbery at sea has fallen to its lowest levels since 1995, despite a surge in kidnappings off West Africa, according to a new report from the International Chamber of Commerce’s International Maritime Bureau (IMB). IMB’s global piracy report shows 98 incidents in


MPA Asks Singapore Maritime Firms to Adopt Sustainability Reporting

Image:  Maritime and Port Authority of Singapore

 In June this year, the Singapore Exchange (SGX) introduced sustainability reporting on a ‘comply or explain’ basis.  To assist and encourage the maritime sector to embrace the new requirement for Sustainability / Integrated reporting


China COSCO Falls to H1 Net Loss

File photo: China COSCO Holdings Co Ltd

China COSCO Holdings Co Ltd fell to a first-half loss hurt by a persistent slump in the global container market, the world's fourth largest container shipper said on Thursday. COSCO Shipping reported a first-half loss of 7.2 billion yuan ($1.08 billion yuan) versus a profit of 1






 
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