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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


DHT Fixes VLCC Issue, Defers Newbuilding

Photo: DHT Holdings, Inc

 DHT Holdings, Inc. said that during a routine inspection of the DHT Jaguar, a fracture surrounding the inspection window of the rudder was identified.  It is DHT's policy to inspect all newbuildings, including underwater areas, during their respective warranty periods.    


Spot box rates rise above 5-year average - Drewry

Image Drewry

Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years. The latest weekly reading is $1,770/40ft container for the composite index, reflecting increases on individual lanes to $1


Spot Box Rates Rise Above 5-Year Average

Graph: Drewry Shipping Consultants Limited

 Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years, said a report by Drewry.   The latest weekly reading is $1,770/40ft container for the composite index


EMGS' Vessel Utilisation Soars

EMGSs 3D EM vessels; BOA Galatea, BOA Thalassa, Atlantic Guardian and EM Leader. Photo EMGS

Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on contracted or multi-client data acquisition


Only One Bidder for STX France

Photo: STX Offshore & Shipbuilding

 The South Korean court handling the bankruptcy proceedings of STX Offshore & Shipbuilding Co. said that only a single bidder had submitted a binding proposal to buy the shipyard's profitable French unit, says a report by AFP.  


Rickmers Sells Vessel to Survive

Photo: Rickmers Maritime Trust

 Rickmers Maritime Trust has completed the sale of a vessel in connection with the settlement of senior loan facilities that German lender Commerzbank's Singapore branch extended to a unit of the trust.  "The Trustee-Manager wishes to announce that the sale of the “India


S.Korea Backs US Shale Gas Imports, Investment

South Korea stepped up a push on Friday to encourage its oil and gas companies to invest in U.S. shale gas projects, amid expectations that more opportunities will arise under a Trump administration.   Asia's fourth-largest economy is the world's second-largest buyer of liquefied natural


Ships off U.N. Blacklist as China Ends North Korean Crewing

The United Nations Security Council lifted North Korean sanctions on five ships after China secured assurances that the vessels would no longer use North Korean crews, a council diplomat said on Sunday. The ships were among 31 vessels sanctioned by the 15-member council on March 2 because they


Security Council lifts N. Korea Sanctions on five ships

The United Nations Security Council said on Saturday it had lifted sanctions on five ships that were blacklisted in March for ties to North Korea's arms trade. The ships were among 31 vessels sanctioned by the 15-member council on March 2 because they were linked to Ocean Maritime Management


GOGL Sinks into Loss

Photo: Golden Ocean Group Limited

Dry bulk shipping company Golden Ocean Group Limited, while announcing its preliminary results for the quarter ended September 30, 2016, informed that it suffered a net loss of $26.7 million and a loss per share of $0.25    Highlights  


Newly Pumped Crude Leaves Reopened Libyan Port of Ras Lanuf

A tanker left the Libyan port of Ras Lanuf on Monday carrying the first freshly produced crude oil to be exported since the terminal reopened in September, a port official said. The tanker shipped 600,000 barrels and a second tanker was due to dock at Ras Lanuf shortly, the official said


Court Okays STX Offshore Rehabilitation Plan

STX Shipbuilding CEO Lee Byung-Mo. Photo: STX Offshore & Shipbuilding

 STX Offshore & Shipbuilding has got the green light to carry on operations. A Seoul court today approved its rehabilitation plan, saving the yard, once the world’s fourth largest, from liquidation, reports Yonhap.   STX Shipbuilding, once South Korea's No


Four Bids for STX Offshore, STX France Emerge

Four parties have expressed interest in buying one or both of South Korea's STX Offshore & Shipbuilding Co Ltd and a controlling stake in STX France SA, a spokesman for the Seoul court overseeing STX Offshore's receivership said on Friday.


Maersk Names Fourth Jack-up at DSME

Photo by Maersk

 Maersk Drilling’s fourth XL Enhanced ultra-harsh environment jack-up was named on 14 October at a ceremony held at the Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea.   "Maersk Drilling’s fourth XL Enhanced ultra-harsh environment jackup was


Mitsubishi Plans to Shrink Ship Building Operations

Mitsubishi Air Lubrication System (MALS) Photo Mitsubishi Shipbuilding & Ocean Development

Japan's Mitsubishi Heavy Industries is planning to stop taking new orders for large passenger ships, downsizing its shipbuilding operations due to a slump in orders, the Nikkei newspaper reported on Sunday. The plans by Japan's fourth-largest shipbuilder come as new shipbuilding orders have






 
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