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
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
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).
Tsakos Energy Navigation 1Q 2009 Profits
Tsakos Energy Navigation Limited (TEN) (NYSE: TNP) reported results (unaudited) for the first quarter ended March 31, 2009. Revenue, net of voyage expenses and commissions, was $106.14 million in the first quarter of 2009 as compared with $115.67 million in the same quarter of 2008. TEN deployed an average of 46 vessels in the first quarter of 2009 versus 43.1 in the 2008 period. The average daily time charter equivalent (TCE) rate was $27,495 versus $31
Tsakos Energy Financial Results
Nine new charters with minimum revenue of $220 million over a 2.4 year period Operating income at $11.9 million (a 159% increase) Nine-Month Hightlights Voyage revenues of $293.7 million Positive EBITDA generated from all operational ships totalling $87.7 million $11.9 million in operating income vs. $4.6 million in nine-months 2011 (159% increase) 24% improvement in the net results, ($24.9) million loss vs. ($32.9) million loss in ninemonths 2011
Eagle Reports 2Q Results
Eagle Bulk Shipping, Inc., the largest U.S. based owner of Handymax dry bulk vessels, reported its financial results for the second quarter ended June 30, 2005. Members of Eagle Bulk's senior management team hosted a teleconference and webcast at 8:30 a.m. this morning to discuss the results.
Conrad Industries Reports Final 1999 Results
Conrad Industries reported net income of $1.5 million for the year ended December 31, 1999, compared to net income of $254,000 for the year ended 1998. Revenues for the year ended December 31, 1999 were $32.6 million compared to $46.3 million for the year ended December 31, 1998. The results for 1998 were affected by a non-cash executive compensation charge of $4.7 million.
Cruise LIne Sees European Financial Woes Impact
Royal Caribbean reports Q2 2012 results and updates 2012 guidance Extracts from the company's report are as follows: Since the company's April guidance, the strengthening of the U.S. Dollar and decreases in fuel pricing have essentially offset one another. Business demand remains solid in the Caribbean and Asia, but larger than anticipated discounting has been required in Europe which has resulted in a one percentage point decline to the midpoint of the company's Constant-Currency Net
Sail Safe BC Ferries’ Safety Initiative
BC Ferries cut time loss injuries in half; it reduced serious injuries by two-thirds; it slashed annual insurance claims costs by more than three-quarters.
QinetiQ Updates Ship Design Software
QinetiQ Maritime’s Paramarine software, a ship and submersible design tool, has released its latest version of software including a number of new capabilities. The new functionality in Paramarine V8, developed by QinetiQ GRC, is intended to further meet the needs of commercial ship
“Lies, Damned Lies & Statistics”
Popularized by Mark Twain and generally credited to 19th-century British Prime Minister Benjamin Disraeli (1804–1881)*, the above line, which in its full form is “There are three kinds of lies: lies, damned lies, and statistics” is one of my favorites
Shipmaster Failed to Report Ship Adrift in Aleutian Pass
Coast Guard investigators have finished a one month investigation into the operation of the 874 ft. long 'Bangkok Bridge' in Dutch Harbor. Two investigators, one from Coast Guard Sector Anchorage and one from Coast Guard Marine Safety Detachment Dutch Harbor, assessed a $75
Intercargo Calls for Improved Reporting Following Ship Casualties
During the forthcoming IMO Maritime Safety Committee (MSC 92 to be held June 12-21, 2013) Intercargo, the International Association of Dry Cargo Shipowners will present its Bulk Carrier Casualty Report and will call for member States to fully investigate ship losses and very serious casualties
Deepwater Horizon Clean-up Ends in Three States
Following the extensive three-year cleanup effort, the U.S. Coast Guard is ending active cleanup operations in Mississippi, Alabama and Florida. The three states named are expected to complete the transition back to the National Response Center (NRC) reporting system by mid June 2013
IEA Report Aims to Help End Emissions Growth
Warning that the world is not on track to limit the global temperature increase to 2°C, the International Energy Agency (IEA) urged governments to swiftly enact four energy policies that would keep climate goals alive without harming economic growth.
World Shipping Accident 'Hotspots' Revealed
A report released by WWF points to ship accident-prone areas: the South China Sea & East Indies, east Mediterranean & Black Sea, and the busy shipping lanes around the British Isles, North Sea and Bay of Biscay. The busy shipping lanes around the British Isles
Nigerian Ship Chandlers Losing Rightful Business
Nigeria currently loses about N80 billion (US$500-million) annually to foreign shipping operators due to Federal Government not enforcing ship chandlery laws. Citing Head of government and international matters of Nigerian Customs Licensed Ship Chandlers Association (NCLSCA), Dr
DOE Funds Research on Alternative Biofuels
Tomorrow, the National Marine Manufacturers Association (NMMA) kicks off a third summer season of alternative biofuel testing in an effort to further advance marine engine technology and find an alternative to fuel containing more than 10% ethanol as a result of its damaging effects on marine
ExxonMobil Upgrades Cylinder Condition Monitoring Program
ExxonMobil Marine Fuels and Lubricants upgraded its marine engine condition monitoring program. The MobilGard cylinder condition monitoring (CCM) program now has the functionality for onboard oil samples to be compared against ExxonMobil’s database of nearly 100,000 test results
Coal Trade Rescues Dry Bulk Market, US Gains Traction
Dry bulk trade grew by an impressive 7% in 2012 with steam coal proving to be the saviour of the freight market, which otherwise would have seen a complete bloodbath, according to Drewry's latest 'Dry Bulk Forecaster'. Steam coal trade increased by about 18% from 665 million tonnes in 2011 to
Three Somali Pirates to Appear in US Court
Three Somali men face a possible death penalty when they go on trial this week for a pirate attack that led to the death of four Americans. Jury selection begins Tuesday in the city of Norfolk, Virginia, for Ahmed Muse Salad, Abukar Osman Beyle and Shani Nurani Sheikh Abrar, reports VOA.
Tankship Owner Turns First Profit Since 2008
Latvian Shipping Company (LSC) owners of 19 medium-size tankships reports a profit in Q1 2013. LSC and its affiliates made a profit of US$ 77,000 despite an impairment charge of US$ 1.7-million against the decrease of the fleet value. Though in absolute terms the profit is merely symbolic
Peel Ports, JCB and Briggs Partner Across Supply Chain
Briggs Equipment is helping Peel Ports Liverpool to maintain the nation's supply of animal feed after securing a multi-million pound contract to supply and service JCB equipment to one of the country's busiest ports. One of Britain's largest port groups