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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


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.


StatoilHydro Annual & Sustainability Reports

"StatoilHydro's results and deliveries in 2008 were strong, and we are well positioned to steer through the current economic downturn. Good exploration results and targeted business development strengthen our resource base and underpin our long-term growth strategy," wrote chief executive Helge Lund in the foreword to the annual and sustainability reports 2008. For the first time, the annual and sustainability reports have only been published online


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


A.P. Møller - Mærsk Q1 Pre-tax Profit Plunge

A.P. Møller - Mærsk Q1 2012 reports plunge in pre-tax profit, sees slightly lower 2012 result Denmark-based conglomerate A.P. Moeller-Maersk A/S reported a plunge in first-quarter pre-tax profit to 8.48 billion Danish kroner from 15.03 billion Danish kroner last year, reports RTT News. In US Dollar terms, pre-tax profit amounted to $1.50 billion, a 46% drop from the prior year's $2.75 billion. However, profit for A.P. Moller - Maersk's share was 6


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


Shipowners Club Shares Half Year Results

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The Shipowners’ Club has released its half yearly results as at 20th August for the 2014/15 year, and reports a strong underwriting performance with a significant increase in free reserves over the same period last year.   Highlights* include Earned premiums US$120.3M


Ending US Oil Export Ban Would Not Raise Gasoline Prices - Study

Ending a 40-year old ban on U.S. crude oil exports would not raise domestic gasoline prices because it would put more petroleum onto global markets, where fuel prices are primarily set, a study by The Aspen Institute said on Tuesday. As the U.S


Fincantieri: Vard Expects Negative EBITDA in Q3

Vard Brevik (Photo: Vard)

Italian shipmaker Fincantieri said its Singapore-listed subsidiary Vard expects marginally negative earnings before interest, tax, depreciation and amortisation (EBITDA) in the third quarter. Vard, which makes offshore vessels for the oil and gas industry


Offshore Oil: Lamprell Completes Caspian Sea Drilling Unit

(Jim Moffat, CEO of Lamprell. Source: Lamprell)

UAE-based Lamprell said that it completed construction of the second Caspian Sea jackup drilling rig, Mercury, for service in the Caspian Sea.   "I am delighted to report that we have completed the second drilling rig for use in the Caspian Sea


New Simulation Tool for Collision Reconstruction

Image: BMT

BMT ARGOSS and BMT Surveys, subsidiaries of BMT Group Ltd, the international design, engineering and risk management consultancy, announced an innovative new service as part of its marine casualty investigation portfolio. Utilizing REMBRANDT, the simulation tool developed by BMT ARGOSS


Video: Containerships Collide in Suez Canal

Video screenshot via PoliceInPortsaid of Colombo Express (right) about to collide with Maersk Tanjong in the Suez Canal

Two large containerships collided in the Suez Canal off Port Said at roughly 5:30 local time Monday morning. The Hapag-Lloyd’s Colombo Express, a 324-meter German-flagged containership, collided with 332-meter Singapore-flagged Maersk Tanjong


Uniworld Again Chooses Merus Water Treatment

Image: Pronomar

Pronomar received an order from Uniworld/Global River Cruises GmbH to apply the Pronomar MERUS technology on board of one of its luxurious River Cruise vessels; the River Beatrice. Following good results on previously equipped vessels, Pronomar equipped complete cold water system


Chinese Premier to Attend Europe Summit, sign Russia Energy Deal

  Chinese Premier Li Keqiang will attend a summit of European and Asian leaders on a trip starting next week that will also include a visit to Germany and the signing of energy and high-speed rail deals with Russia, the government and state media said.


Glencore Seeks Rio Tinto Merger

FPSO Aseng sailaway. (Photo: Glencore)

Commodities giant Glencore has started talks with Rio Tinto's largest shareholder, Aluminium Corp of China (Chinalco), as it seeks to pave the way for a possible merger in 2015, Bloomberg News reported on Monday. Reuters reported last month that Glencore could make a move for mining rival Rio


USCG Rescues 4 Near Whittier, Alaska

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The Coast Guard rescued four hunters stranded in Blackstone Bay near Whittier Monday. A 45-foot response boat-medium crew from Station Valdez safely transported the men and towed their skiff to Whittier. Watchstanders at the Sector Anchorage command center recieved a report from the men that


$310 Billion 'Energy Efficiency' Market Grows Rapidly

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IEA report sees energy efficiency finance becoming established market segment in its own right ... $310B & Growing Rapidly   The global energy efficiency market is worth at least $310 billion a year and growing, according to a new report from the International Energy Agency that


North Sea firms “Biding Time”

Oil and gas operators may be sitting on new investment decisions until the future of the North Sea becomes clearer, according to the latest report from business advisory firm Deloitte. The report, which details drilling, licensing and deal activity across North West Europe over the third


Antwerp Ro/Ro Terminals Start with Paperless Export

Antwerp roro terminal

ICO and AET, the two ro/ro terminals in the port of Antwerp, are now also connected to the e-Desk. The Antwerp Port Community System (APCS) introduced the e-Desk for containers already in 2012, and this year the successful collaboration has been extended to rolling stock


Chinese Fisherman killed in South Korean Coastguard Raid

A Chinese fisherman was killed on Friday in a South Korean coastguard operation to apprehend his vessel which was operating illegally off South Korea's west coast, the South Korean coastguard said, drawing an angry response from China. Coastguard officers fired eight bullets when they raided


Reducing Human Error & Near Miss Incidents

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We recently came across a very interesting report issued to Congress by the United States Coast Guard. The May 2012 study might seem dated, but that’s hardly the case. Actually, it’s a telling description of what can go wrong, why and perhaps






 
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