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Reports Results

Stolt-Nielsen S.A. Reports 4Q and 2007 Results

Stolt-Nielsen S.A. reported results for the fourth quarter and full year ended November 30, 2007. The financial statements for the full year ended November 30, 2007 have been audited. Highlights for the fourth quarter and full year ended November 30, 2007, compared with the fourth quarter and full year ended November 30, 2006, included: • Operating revenue for the fourth quarter of $460.8 million, up 14% compared with same quarter last year. Operating revenue for the full year of $1,759.4 million, up 12% compared with the previous year. • Operating income for the fourth quarter of $47.0 million, up 7% compared with fourth quarter of last year. Operating income for the full year of $193.0 million, up 16% compared with the previous year. • Net income for the fourth quarter of $36.3 million, compared with net income of $57.8 million in the same quarter last year (fourth-quarter 2006 results included a contribution to net income of $19.4 million from Stolt Sea Farm's 25% share of Marine Harvest, which was sold in the first quarter of 2007). Net income for the full year of $216.4 million, up 8% from $199.9 million in the prior year. • The Stolt Tankers Joint Service Sailed-in Time-Charter Index was 1.25, down 7% from 1.34 in the fourth quarter of 2006. • At Stolt Parcel Tankers, growth in operating income was impacted by higher operating costs.


International Shipholding Corporation Reports Third Quarter Results

International Shipholding Corporation reported results for the quarter ended September 30, 2001. Net loss for the third quarter was $165,000 as compared to net income of $418,000 for the third quarter of 2000. For the nine months of 2001, International Shipholding Corporation reported a net loss of $62.9 million as compared to net income of 461,000 during the first nine months of 2000. The nine-month results for 2001 reflect a previously reported asset impairment loss of “Assets


Euroseas Reports Results for the 1Q

Euroseas Ltd. , an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced its results for the First Quarter ended March 31, 2007. For the first quarter of 2007, the Company reported total net revenues of $13.5 million and net income of $9.5 million representing a 45% and 177% increase, respectively, over total net revenues of $9.3 million and net income of $3


Good Performance by Dun & Bradstreet in 3Q 2014

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  Dun & Bradstreet, the world's leading source of commercial information and insight on businesses, today reported results for the third quarter ended September 30, 2014. "We continue to make good progress against our strategy and we are beginning to build momentum on our top line," said Bob Carrigan, President & CEO of Dun & Bradstreet. "There are ever more market signals indicating growing demand for actionable data and insights and we are well positioned


Maersk Posts Record Profit Despite Pressure in Shipping Rates

Courtesy: Maersk Line

 Maersk Line has reported a profit of $2.3bn for 2014 a 50% increase over the previous year, and expects a higher result in 2015, though the shipping rates remain under pressure.   But 2015 is expected to yield less impressive results due to falling oil prices. The Chief Executive Officer Nils Smedegaard Andersen says shipping rates remain under pressure but maintains the business is "doing very well at the moment."   


As Oil Plunges, Traders Generate Record Earnings

Oil traders are profiting handsomely from a crude price crash to near an 11-year low, even as it forces energy companies around the globe to slash costs and postpone projects.   From listed giant Glencore through unlisted Swiss privately-held Trafigura, to the trading desks of majors BP and Shell, traders have often done well in times of oil price downturns, and markedly so this time around.   On Monday, Trafigura, which trades roughly 3 percent of global oil


Brunswick Reports Q1 Results

 Brunswick Corporation (NYSE:BC) reported results for the first quarter of 2010:   --  Total net sales of $844.4 million, up 15 percent versus 2009.   --  A net loss of $13.0 million, or $0.15 per diluted share, which includes $0.08 per diluted share of restructuring and impairment charges and $0.02 per diluted share of benefits from special tax items.   --  Operating earnings of $10.1 million, a $137.6 million improvement from prior year.


TEN Reports 4Q Results

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18th consecutive year of profitability Company declares quarterly dividend of $0.15 payable in April 2011 Total dividends reach $333 million since 2002 NYSE listing 2010 HIGHLIGHTS - Voyage revenues of $408.0 million. - Operating income of $80.7 million, after vessel impairment charge of $3.1 million. - Net income of $19.8 million, after vessel impairment charge of $3.1 million. - EPS (diluted) of $0.50 ($0.58 per share excluding impairment charge). 


Cummins Reports Results for Q2 2013

Cummins Inc. today reported results for the second quarter of 2013. The company said they expect full year revenues to be in line with 2012. Second quarter revenues of $4.5 billion increased 2% from the second quarter of 2012. Revenues in North America increased by 7% and international revenues declined by 4%. Within international markets, growth in Brazil and China was offset by weaker demand in Europe, India and Mexico.


Examining the Fate of Fukushima Contaminants

Researchers deployed time-series sediment traps 115 kilometers southeast of the nuclear power plant at depths of 500 meters and 1,000 meters. The two traps began collecting samples on July 19, 2011—130 days after the March 11 earthquake and tsunami—and were recovered and reset annually. (Makio Honda, Japan Agency for Marine-Earth Science and Technology)

A fraction of buried, ocean sediment uncovered by typhoons, carried offshore by currents   An international research team reports results of a three-year study of sediment samples collected offshore from the Fukushima Daiichi Nuclear Power Plant in a new paper published August 18, 2015, in the American Chemical Society's journal, Environmental Science and Technology.   The research aids in understanding what happens to Fukushima contaminants after they are buried on the seafloor


Commercial Sea Training Resumes for USMMA Cadets

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The United States Merchant Marine Academy (USMMA) has announced that Sea Year training for USMMA Midshipmen will resume on three commercial carriers beginning in March 2017.   The reinstatement of the program follows the implementation of comprehensive new policies


Lift Boat Crew Rescued in US Gulf

Four crewmembers aboard the lift boat Superior Trust were rescued after the vessel became unstable near Southwest Pass, La., Wednesday.   U.S. Coast Guard Sector New Orleans watchstanders received a call early Wednesday morning reporting one of the Superior Trust’s legs failed and


Odfjell Returns to Profit

Photo: Odfjell SE

Odfjell SE today reported preliminary full year and Q4 2016 results, showing improvement in financial performance in 2016 in spite of challenging markets. Efficiency programs continue to increase competitiveness, and the balance sheet is substantially strengthened.


Higher profits for Transocean

Courtesy Transocean

Transocean Ltd. reported their Fourth Quarter and Full Year 2016 Results.  * Revenues were $974 million, up from $906 million in the third quarter of 2016  * Operating and maintenance expense was $314 million, including $30 million in favorable items associated with litigation matters


Stolt-Nielsen's Profits Slip

Stolt-Nielsen Limited today reported unaudited results for the fourth quarter ended November 30, 2016. Net profit attributable to shareholders in the fourth quarter was $22.8 million, with revenue of $463.0 million, compared with a net profit of $22.2 million, with revenue of $474


Seafarers' Fatigue Report Launched at IMO

MARTHA Image InterManager

InterManager, the trade association for in-house and third party ship managers, together with The Warsash Maritime Academy, has presented the findings of its fatigue study, Project MARTHA, to The International Maritime Organization (IMO).


UK, Continental Ferries Carried 8.8 mln Cars in 2016

Photo: UK Chamber of Shipping

 The number of cars taken by ferry has increased from 8.6 million in 2015 to nearly 8.8 million in 2016, a 1.7% increase. This is the fourth successive year of growth according to the annual results of the ferry industry.   2016 Ferrystat figures released today by Discover Ferries


Lawsuit Drags BP's Oil Trading Division into the Red

Brian Gilvary (Photo: BP)

BP's oil trading business, one of the biggest in the sector, reported a rare loss in the fourth quarter after it lost a $70 million lawsuit over an oil cargo delivered to a Moroccan refinery.   BP's Chief Financial Officer Brian Gilvary said due to flat trading positions ahead of a crucial


A.P. Moller-Maersk Misses Q4 Forecast

File Image: A Maersk product tanker underway (CREDIT: Maersk)

Net operating loss after tax of $2.7 bln means dividend cut. Chairman to step down at end of March.   A.P. Moller-Maersk missed fourth-quarter profit expectations on Wednesday as the world's largest shipping company pressed on with changes, taking impairments


Why Is Fuel Testing Important?

© Oleksandr Prykhodko / Adobe Stock

Ship operators shuld make on board fuel testing an operational necessity, urges Wilhelmsen Ships Service (WSS).   There are a host of issues, which can arise with both traditional heavy fuels and modern low sulphur distillates that, if left unchecked


The Big Melt in World Ocean Ice Record

Photo: National Snow and Ice Data Center

 Sea ice extent in both the northern and southern hemisphere was at record low levels for the month of January 2017.   Last month set a record for the lowest sea-ice extent for the month, falling below the record set last year, according to the National Snow and Ice Data Center (NSIDC)


Maersk Line posts $376 mln Loss

Courtesy Maersk Line

Maersk Line reported a 2016 result that is USD 1,679 million lower than the 2015 result (USD 1,303 million). The overriding reason for the loss is a 19% decline in freight rates compared to 2015. Revenue was USD 20.7 billion, which is 13% lower than 2015 (USD 23.7bn).  


Litter Levels in the Arctic Depths On the Rise

Map FRAM (Graphic Thomas Soltwedel)

The Arctic has a serious litter problem: in just ten years, the concentration of marine litter at a deep-sea station in the Arctic Ocean has risen 20-fold. This was recently reported in a study by researchers at the Alfred Wegener Institute, Helmholtz Centre for Polar and Marine Research (AWI).


Diana Containerships Reports 4Q Loss

Photo: Diana Containerships Inc

 Greece-based Diana Containerships has reported a net loss of $8.5 million for the fourth quarter of 2016, compared to a net loss of $8.8 million for the respective period of 2015.    On a per-share basis, the company said it had a loss of 92 cents


Navios Maritime sells MSC Cristina to Repay $100 mln Debt

Image:  Navios Maritime Partners L.P.

 In January 2017, following the completion of the sale of the MSC Cristina, Navios Maritime Partners repaid approximately $100 million of bank debt.    Proforma for these repayments, net debt/book capitalization for December 31, 2016, has decreased to 36.5%






 
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