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Reports Record

New Cruise Ship to Ply Yangtze River

According to a report on www.chinadaily.com.cn, a new cruise ship will soon set sail to the Yangtze River's Three Gorges Dam. The "Yangtze River No. 2," a 139-m, six-storey cruise ship, will embark on its maiden voyage from the southwestern Chongqing Municipality to the Three Gorges Dam in Hubei's Yichang City on August 29, www.chinadaily.com.cn reported, citing an official of Changjiang (Yangtze) Cruise Overseas Travel Co., the operator of the ship. Yangtze River No. 2, the third luxury cruise ship to set sail this year, is dubbed the largest river cruise ship. It can accommodate up to 452 people and has a swimming pool, a theater as well as luxury suites equivalent to a five-star hotel. Last year, a reported record of 310,000 people toured the Yangtze on luxury cruise ships, with projections of 450,000 to set sail this year. (Source: www.chinadaily.com.cn)


Royal Caribbean Sees Record Revenues

Royal Caribbean Cruises Ltd. announced a net loss for the fourth quarter of 2005 of $3.6 million, or $0.02 per share, compared to a net loss of $25.8 million, or $0.13 per share, for the fourth quarter of 2004. Revenues for the fourth quarter of 2005 increased 6.7% to $1 billion from revenues of $964.6 million in the fourth quarter of 2004. Gross Yields and Net Yields for the fourth quarter of 2005 increased 6.1% and 8.2%, respectively, from the fourth quarter of 2004


Jotun Reports Record Year

The Jotun Group will probably match last year's record results. At the end of the first 8 months of the year the Group's operating income totalled NOK NOK 4 619 million. Not only was this NOK 359 million up on the same period last year, but the operating income is equal to last year, despite unfavourable exchange rate developments and the continuing high price of raw materials. The performance is in line with last year, which was the best year ever


BV Reports Record-Breaking Year

International classification society Bureau Veritas reported arecord-breaking year, with a sustained growth of fifteen percent in net sales to the end of June, 2006. Speaking at the tenth annual Bureau Veritas Beaujolais Nouveau reception at Trinity House in London on November 16, BV marine division managing director Bernard Anne said, “Our group is doubling in size every five years, and I am confident we will reach over $2.2b in turnover by the end of the year.


Manitowoc Reports Fourth-Quarter and Full-Year Results

The Manitowoc Company, Inc. has reported record sales, cash from operations, and net debt reduction for the full year 2003. For the fourth quarter, the company reported net sales of $395.9 million, increasing from $386.0 million during the same period last year. Including special charges, the company reported a net loss of $5.5 million, or $0.21 per diluted share for the quarter, compared with a net loss of $25.1 million, or $0.94 per diluted share, in


NOL Reports $208m Year-On-Year Improvement

Group’s 4Q 2012 performance improves 75%; meets cost saving goal of US$500 million Global container shipping and logistics group Neptune Orient Lines (NOL) reported fourth quarter 2012 Core EBIT (Earnings Before Interest and Taxes) loss of US$69 million, a 75% improvement in the key profitability measure from a year ago. The Group posted a full year net loss of US$419 million, mainly due to a first quarter net loss (before non-recurring items) of US$255 million and one-time charges of


K-Sea Announces Record Results

K-Sea Transportation Partners L.P. reported record results of operations for its fiscal 2006 first quarter ended September 30, 2005. The Company also announced that its distribution to unitholders in respect of the first quarter will increase by $0.01 to $0.57 per unit, or $2.28 per unit annualized. The distribution will be payable on November 14, 2005 to unitholders of record on November 8, 2005. For the three months ended September 30, 2005, the Company reported operating income of $6


Port of Le Havre Reports Record Year for Containers

A strong flow of container traffic at the Port of Le Havre in 2002 was responsible for a new record of 20 million metric tons (MT) in the category of general cargo for both import and export, an increase of more than 2 MT from 2001, according to the preliminary results for 2002 released by the port authority. Container tonnage increased to 16.8 MT, up 15.1 percent from 2001. Le Havre handled 1.72 million TEUs (twenty-foot equivalent units) in 2002 – nearly 200


Manitowoc Reports 2001 Results

The Manitowoc Company, Inc. reported record revenue and cash flow for the full year ended December 31, 2001. Net sales for the year increased 27.9 percent to $1.1 billion from $873.3 million for 2000. Earnings, excluding a one-time charge, were $48.9 million, or $1.99 per diluted share, compared with $60.3 million, or $2.40 per diluted share, for the comparable period in 2000. Including the one-time, after-tax charge of $3


Overseas Shipholding Group Reports Record First Half Results

Overseas Shipholding Group, Inc. reported $86 million of net income for the first six months of 2003, the highest earnings during the first six months of any year in the Company's history. Net income for the quarter ended June 30, 2003 was $41,840,000, or $1.21 per share, compared with net income of $3,670,000, or $0.11 per share, in the second quarter of 2002. Results for the second quarter of 2003 include a $2,178,000, or $0


Oil Rises Towards $31 on Hopes of Deal

Oil rose on Tuesday to above $31 a barrel on hopes that OPEC and non-OPEC producers were inching closer to a deal to reduce output in the face of one of the biggest supply gluts in decades.   The Organization of the Petroleum Exporting Countries is making renewed calls for rival producers


Navios Maritime Posts 4Q Profit

Photo: Navios Maritime Midstream Partners LP

 Navios Maritime Midstream Partners LP (NAP) on Wednesday reported fourth-quarter profit of $9.1 million. On a per-share basis, the company said it had profit of 44 cents.   The operator of contracted crude oil tankers posted revenue of $25.8 million in the period


Piracy Hotspots Persist Worldwide -IMB Report

Image: IMB

Piracy and armed robbery on the world’s seas is persisting at levels close to those in 2014, despite reductions in the number of ships hijacked and crew captured, the International Chamber of Commerce (ICC) International Maritime Bureau’s (IMB) annual piracy report reveals.  


Dramatic Turnaround for Hanjin Shipping in 2015

Photo: Hanjin Shipping

 The Korean shipping giant Hanjin Shipping  improved its financial result in 2015 and came back to profit trajectory.    It reported a $6m net profit in 2015 from a $396m loss the previous year and said it expects cost-saving measures to help it weather a tough 2016.  


US Crude Inventories Rise Unexpectedly

U.S. crude stocks rose unexpectedly last week on a bigger-than-expected build in distillate and gasoline inventories and higher imports, data from the Energy Information Administration showed on Wednesday.   Crude inventories rose by 2


Record Number of Migrants Killed Crossing Mediterranean

Migrants in Dinghies Photo IMO

  More than 3,770 migrants and refugees died in 2015 trying to reach Europe by crossing the Mediterranean Sea, making the year the deadliest on record for those seeking sanctuary from conflict and poverty, an international migration group said on Thursday.


China Shipping Woes Continue as Bulk Rates Plunge

Baltic Dry Index hits all-time low of 468 points on Tuesday. China's dry-bulk shipping industry will likely see a surge in bankruptcies this year as freight rates hit record lows and the country's demand for imports wanes, consultancy Shanghai International Shipping Institute (SISI) said.


Mississippi River Seen Cresting in Tennessee, Arkansas this Weekend

The Mississippi River, a major artery for U.S. commercial barge traffic, was expected to crest in Tennessee on Friday and Arkansas over the weekend as it pushed south toward the Gulf of Mexico, officials said.   The river is predicted to rise just below 40 feet (12


Russia Sets Oil Production Record for 2015

Courtesy Arctic Info

  Against the backdrop of a sharp drop in oil prices sharply increased their exports, Russia has set a new record for oil production in 2015. This is a new record for oil production (including gas condensate) - 534 081 000 tons, which is 1


Baltic Exchange Main Sea Dreight Index Declines Further

Image: Baltic Control

 The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying industrial commodities, sank to a new record low for the sixth straight session on Tuesday, reports Reuters.   The overall index, gauging the cost of shipping dry bulk cargoes including grain


Maritime Faces New Lease Accounting Standards

Michael Simms (Photo: Moore Stephens)

 A new international accounting standard dealing with leases could have major implications for companies in the shipping and offshore maritime sectors, and particularly for time charterers, according to international accountant and shipping adviser Moore Stephens.  


Baltic Index Slides Further as Demand Woes Continue

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, touched a record low for the eighth straight session on Thursday, hurt by a persistent vessel glut and weaker global demand.  


Baltic Index Slump Continues on Demand Concerns

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, touched a record low for the ninth straight session Friday, mostly due to vessel oversupply and lack of global demand.   The overall index


Port of Rotterdam Sets Record Throughput in 2015

Photo: Port of Rotterdam

 The Port of Rotterdam reported record volumes 466.4m tonnes in 2015 boosted by increased oil trade. Goods throughput in Rotterdam increased by a total 4.9%.   “Low oil prices result in high margins for the refineries, so they have large quantities of oil shipped in for refining


Baltic Index Bottoms Out at Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, ended flat on Monday, primarily due to higher rates for capesize vessels and ending a run of 15 consecutive losing sessions.  






 
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