Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market, even as lower fuel prices would help operations. Stolt-Nielsen's fourth quarter net profit fell to $13.1 million from $35.2 million a year earlier, coming short of expectations for $21 million in a Reuters poll of analysts. "We remain concerned about the market outlook for Stolt Tankers, as the order book now stands at over 30 percent in the parcel-tanker segment and the global economic outlook is uncertain," it said. "With the prolonged challenging chemical tanker market, we have and will continue to challenge our cost structure." It added that lower bunker costs would eventually have a positive impact on its results but big parts of the savings would have to be passed onto contract customer. Reporting by Balazs Koranyi
Northrop Grumman Corporation reported 2001 fourth quarter economic earnings of $158 million, compared with $106 million for the same period of 2000. On a per share basis, the company reported 2001 fourth quarter economic earnings of $1.55 on average diluted shares outstanding of 98.0 million, compared with economic earnings of $1.46 on average diluted shares outstanding of 72.5 million for the fourth quarter of 2000. Under Generally Accepted Accounting Principles (GAAP)
Tulsa-based Parker Drilling Company reported an unaudited loss for the fourth quarter of $13,353,000. This compares with a loss of $11,266,000 for the fourth quarter of 1998. Financial results for the fourth quarter of 1999 were improved over the third quarter loss of $14,900,000 after adjusting for non-recurring gains and losses. For the year 1999, Parker Drilling reported a loss of $37,897,000, as compared to a loss of $5,587,000 for calendar 1998
Teekay Tankers Ltd. (NYSE:TNK) - Highlights · Declared a cash dividend of $0.22 per share for the quarter ended December 31, 2010. · Reported fourth quarter adjusted net income of $2.6 million, or $0.05 per share (excluding specific items which increased GAAP net income by $5.2 million, or $0.10 per share). · Over 60 percent of fourth quarter revenue days earned average fixed
Stolt-Nielsen Limited reported unaudited results for the first quarter ended February 28, 2013. Net profit attributable to SNL shareholders in the first quarter was $1.5 million, with revenue of $519.4 million, compared with $18.2 million, with revenue of $510.9 million, respectively, in the fourth quarter of 2012. Highlights for the first quarter of 2013, compared with the fourth quarter of 2012, were:
Greece's Safe Bulkers, Inc. reports Fourth Quarter & Twelve Months 2013 results and declares quarterly dividend on common stock of $0.06 per share for the fourth quarter of 2013. Summary of Results for the Twelve-Month Period Ended December 31, 2013 Net revenue for the twelve-month period ended December 31, 2013 increased by 1% to $186.7 million from $184.3 million during the same period in 2012. Net income for the twelve-month period ended December 31
Trico Marine Services, Inc. announced a net loss for the fourth quarter ended December 31, 2001 of $884,000, on revenues of $41.7 million. This compares to net income of $1.4 million on revenues of $41.7 million, for the fourth quarter last year. For the fiscal year ended December 31, 2001, the Company reported a net loss of $6.9 million on revenues of $182.6 million which included a non-cash charge of $24.3 million, before taxes, due to the write-down of the book value of eight vessels
Trico Marine Services, Inc. announced a net loss for the fourth quarter ended December 31, 2002 of $14.4 million, or $(0.40) per share (diluted), after an extraordinary item, on revenues of $35.2 million. The net loss for the 2002 fourth quarter includes an extraordinary charge of $102,000 resulting from the early extinguishment of debt and a non-cash charge of $5.2 million due to an asset write-down. This compares to a net loss of $884,000, or $(0
SEACOR Holdings Inc. (NYSE: CKH) announced its results for the fourth quarter of 2009. Net income attributable to SEACOR Holdings Inc. for the quarter ended December 31, 2009 was $22.2 million, or $1.04 per diluted share, on operating revenues of $476.5 million. During the fourth quarter, the Company called and settled all of its outstanding 2.875% Convertible Senior Debentures due 2024 resulting in a debt extinguishment loss of $6.1 million, net of tax, or $0.26 per diluted share
Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices. The company posted a net loss of $891.1 million, or $3.08 per share, in the fourth quarter ended Dec. 31, compared with a profit of $150.6 million, or 50 cents per share, a year earlier. Revenue rose 11.1 percent to $1.79 billion. (Reporting By Darshana Sankararaman in Bengaluru; Editing by Simon
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 Gulf LNG Liquefaction Project proposed by Kinder Morgan and minority partners officially filed Friday for federal approval to add exporting capabilities to an existing liquefied natural gas (LNG) terminal. The $8 billion LNG export project near Pascagoula
Union workers at Exxon Mobil Corp's Beaumont, Texas, refinery agreed to an unusually long six-year contract on Thursday night, which sources say the company pushed to assure no work stoppages during a contemplated multibillion-dollar expansion.
Seaspan Corporation accepted delivery of a 14,000 TEU containership, the YM Witness. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's fourth 14,000 TEU SAVER design containership and fifth delivery in 2015.
GE Marine announced it has signed a contract with Savunma Teknolojileri Mühendislik Ve Ticaret A.Ş. (STM), Ankara, Turkey, whereby GE will provide STM with LM2500 gas turbines. The engines will power the Turkish Navy’s third and fourth MILGEM multi-purpose corvettes
Royal Caribbean has ordered a fourth ship for its Quantum Class family of ships from Meyer Werft. The ship will be delivered in 2019. With two Quantum-class vessels already delivered and a third under construction, Royal Caribbean Cruises on Thursday announced plans to order a fourth
Ceremony signaled the start of construction for APT-4 ECO Tanker, the fourth of five Jones Act tanker ships to be constructed at NASSCO for American Petroleum Tankers. General Dynamics NASSCO signaled the start of construction of the fourth of five “ECO” tankers to be built
The overall Greek loans of Hellenic maritime companies and ship owners (drawn and committed but undrawn) rose to $64.019 billion by the end of 2014, 4.1% higher than the $61.498 billion of 2013. Petrofin Research in its latest annual research says that drawn loans are up by 2
Cameroon cocoa exports jumped 24 percent to 181,893 tonnes year-on-year by end-April since the start of the 2014/15 season on Aug. 1, data from the sector's regulator showed on Tuesday. Statistics from the National Cocoa and Coffee Board (NCCB) showed that Africa's fourth biggest
Teekay Offshore Partners L.P. informs it has entered long-term contracts to provide shuttle tanker services for a group of companies producing oil on Canada’s East Coast, including Chevron Canada, Husky Energy, Mosbacher Operating Ltd., Murphy Oil, Nalcor Energy, Statoil and Suncor Energy.
South Korean shipbuilders, led by industry leader Hyundai Heavy Industries Co., clinched the largest amount of new orders in May, retaining the top spot for the fourth consecutive month, BusinessKorea reported based on industry sources, including Clarkson Research Services.
Songa Offshore SE announced that the maturity of the fleet financing of Songa Dee, Songa Delta and Songa Trym has been extended from fourth quarter 2016 to first quarter 2018 when it will mature with a balloon of USD 25 million.
King Abdullah Port (KAP) in Rabigh aims at being part of the overall development of the Saudi economy, which is the largest economy in the region and among the top 20 in the world, said Abdullah Hameedaddin, managing director of Ports Development Company (PDC)
Shipbuilder General Dynamics NASSCO delivered the U.S. Navy’s newest ship, the USNS Lewis B. Puller (MLP 3 AFSB) on Friday, June 12. The ship is named in honor of the late U.S. Marine Corps Lieutenant General Lewis “Chesty” Puller
US-headquartered owner and operator of modern Very Large Gas Carriers (VLGC) Dorian LPG took delivery of the ECO VLGC Cougar from Hyundai Samho Heavy Industries. Cougar, Dorian LPG's fourth newbuilding delivery, will initially trade in the spot market through the Helios