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Reports Fourth

Stolt-Nielsen Q4 Profit Misses Forecast

A Stolt Tanker underway (Stolt-Nielson)

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


Asia-Europe Box Rates Down 8 pct

The containership Maersk Kalmar. Maersk controls around a fifth of containers transported from Asia to Europe. (file image)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 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. It was the fifth consecutive week of falling freight rates on the world's busiest route, and the current level is widely seen as loss-making to shipping companies.


Northrop Reports 4Q Results

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)


Safe Bulkers Squeeze One Percent More Revenue Out of 2013

Image courtesy of Safe Bulkers

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


Teekay Tankers Q4 & Year End Results

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


Parker Drilling Reports $13M Loss

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


Stolt-Nielsen Limited Reports Results

Photo: Stolt-Nielsen

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:  


SEACOR Q4 Results

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


People & Company News: Trico Marine Reports 2002 and 4Q Results

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


Trico Marine Reports Full Year 4Q Results

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


Shipbuilding: Korea Losing Race with China

Photo: Samsung Heavy Industries

 The Korean shipbuilding industry has plunged into a deep crisis as the big three —Daewoo, Hyundai Heavy, and Samsung Heavy—posted record combined losses in 2015, and 2016 looks no better.   Added to the woes, Korean shipbuilders’ orders in the first half of this year


US Oil Drillers Add Rigs for 4th Week in 5

U.S. drillers this week added oil rigs for a fourth week in five, according to a closely followed report Friday, in the best month of producers returning to the well pad since August that signaled a near-two year rout in drilling may have ended.  


Will Zim Join 2M?

Photo: ZIM Integrated Shipping Services Ltd

 Israeli carrier Zim Integrated Shipping Services (ZIM) might join the 2M Alliance between Maersk Line and Mediterranean Shipping Co., Alphaline said quoting industry sources.   This news followed the last week's news of South Korea’s Hyundai Merchant Marine (HMM)


BP Receives its First Venezuelan Crude Cargo under Swap Deal

Britain's BP Plc this month received a Venezuelan crude cargo from state-run PDVSA, according to Thomson Reuters trade flows data, the first since the companies agreed on a swap arrangement to settle pending payments for U.S. oil shipments.  


Young Brothers Orders Four New Tugs from Conrad

Young Brothers, Limited, Hawai‘i’s largest inter-island cargo service provider, and Conrad Shipyard, signed a contract to build four new tugs, a nearly $80 million investment that is designed to support Young Brothers’ overally service efficiency


Panamax Vessel Demand Keeps Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand propped up rates for panamax vessels.   The overall index, which factors in rates for capesize, panamax


Nuclear Sub Vladimir Monomakh to Join Pacific Fleet

Vladimir Monomakh. Pic: Russian Navy

 TASS reports that Vladimir Monomakh Borey class nuclear-powered ballistic missile submarine (Project 955) will complete the voyage to the Pacific Fleet before the yearend, quoting Commander-in-Chief of the Russian Navy Admiral Vladimir Korolev.  


US Oil Drillers Add Rigs for 2nd Week in a Row

U.S. energy firms this week added rigs drilling for oil for a second week in a row for the first time since August, energy services firm Baker Hughes Inc said on Friday, after crude prices this week rallied to an 11-month high over $51 a barrel.  


Indiana Ranks Top 10 for 109 Logistics Categories

2016 Indiana Logistics Directory Cover Photo Indiana Ports

The newly released 2016 Indiana Logistics Directory reports that Indiana ranks high nationally in its ability to move freight via truck, rail, water and air. The state is ranked in the top five states in more than 25 logistics-related categories and in the top 10 in 109


S. Korea Boosting Condensate Imports from Iran

South Korea, Asia's largest buyer of condensate, will step up purchases of the ultra light oil from Iran by more than 50 percent in June, two sources said, as competitive pricing squeezes out rival oil from Qatar.   Expected June shipments of condensate from Iran may reach at least six


Shipping Corp Seafarers on Hunger Strike

Image: Shipping Corporation of India

 Around 200 seafarers with Shipping Corporation of India (SCI), the country's largest shipping company, are on a hunger strike (industrial action) since Saturday over wages and arrears.   According to a Press Trust of India report, these seafarers


Höegh LNG Turns to Profit in 1Q

PGN FSRU Lampung  Courtesy Hoegh

Höegh LNG returned to profit following a Profit after tax of USD 6.3 million for the first quarter of 2016, up from USD 4.0 million net loss in the fourth quarter 2015. The company’s EBITDA reached $26.6 million for the first quarter of 2016, up from $24


Cheniere to Roll Out Second LNG Unit

Photo: Cheniere Energy, Inc

 Cheniere Energy Inc. plans to start exporting liquefied natural gas in August from a second plant at its Sabine Pass terminal in Cameron Parish, according to a report from Bloomberg News.    Cheniere began exporting LNG in February from its first unit at Sabine Pass


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


Argentine Grains Port Workers Return after Brief Strike

A one-day strike at the Rosario grains export hub in Argentina ended on Friday after the government compelled union and company officials to enter into wage negotiations for 15 days, a union leader said.   The strike began at midnight local time and ended around noon after the union agreed






 
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