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Reports Third

Northern Offshore Reports Third Quarter Results

Consolidated EBITDA for Northern Offshore amounted to $7.7 million for the third quarter, up from $5.5 million the seconde quarter this year, mainly due to EBITDA generated from the Energy Searcher of about $950,000 and higher production volume on Northern Producer. Comparing nine months 2001 with nine months 2000, the EBITDA reduction of $10.4 million is partly due to the recording of the settlement of USD 6 million from the dispute with Coplex Resources in 2000 and reduced production volume from Northern Producer this year compared with year 2000. For the third quarter of 2001 the net loss was $2.5 million. Net loss for nine months this year was $2.3 million compared with a profit of $19.9 last year. In addition to the difference in EBITDA as described above, the main reason for the reduced profit refers to higher profit on repurchased Bonds in 2000, partly offset by adjustment of deferred taxes in connection with the change of domicile for the company.


Hvide Marine Reports Third Quarter Loss

Hvide Marine Inc. today reported a net loss of $20.1 million or $.129 per diluted share on revenues of $86 million for the quarter ended September 30, 1999. In the period one year earlier, the company had a net income of $3.9 million or $.25 per diluted share on revenues of $100.1 million. Results in the current quarter and year-to-date have been adjusted to reflect the consolidation, as of September 30, 1999 of Lightship Tankers LLC, a 50


Carnival Cruise Lines Founder Dies

Ted Arison, founder of Carnival Cruise Lines, reportedly died of a heart attack on Oct. 1 in Tel Aviv at the age of 75. Arison, listed in Forbes magazine as one of the world's richest men, made most of his fortune in the United States and had vast business interests in Israel. He assumed management of a passenger shipping company in Miami, Florida, soon after retiring there in 1966, and started Carnival Cruise Lines in 1972 after buying his first liner, Mardi Gras.


Horizon Offshore Reports Third Quarter Earnings

Horizon Offshore, Inc. reported net income for the quarter ended September 30, 2001, of $2.8 million. This compares with net income of $3.7 million, for the third quarter of 2000. For the third quarter of 2001, the company reported gross profit of $7.7 million, or 12.6 percent, on contract revenues of $61.0 million, compared with gross profit of $10.3 million, or 18.2 percent, on contract revenues of $56.3 million in 2000.


HII Q3 2012 Reports Significant 2015 Milestones Reached

Huntington Ingalls Industries reports third quarter 2012 revenues of $1.60 billion, up 0.2 percent from the same period last year. Highlights: Revenues were $1.60 billion for the third quarter 2012 Diluted earnings per share was $0.26 for the quarter Adjusted diluted earnings per share, which excludes a non-cash workers' compensation charge and the impact of a non-cash tax expense, was $0.74 Cash and cash equivalents were $766 million at quarter-end


Teledyne Reports Third Quarter Results

Teledyne today reported third quarter 2013 sales of $571.6 million, compared with sales of $547.4 million for the third quarter of 2012, an increase of 4.4%. Net income attributable to Teledyne was $46.8 million ($1.23 per diluted share) for the third quarter of 2013, compared with $42.7 million ($1.14 per diluted share) for the third quarter of 2012, an increase of 9.6%. “In the third quarter, our commercial industrial businesses collectively performed very well


Trailer Bridge Reports Third Quarter Results

Trailer Bridge, Inc. reported its financial results for the third quarter ended September 30, 2001. Total revenue for the three months ended September 30, 2001 was $20,052,136, as compared to $23,151,664 for the third quarter of 2000. Compared sequentially to the second quarter of 2001, total revenue decreased $1,607,048 or 7.4 percent. In the early part of the third quarter, Trailer Bridge experienced higher vessel utilization both southbound and northbound. Based


New CNOOC Fields in Bohai Bay Start Production

CNOOC Limited announced that its two new oil fields, BoZhong (BZ) 26-3 and LuDa (LD) 32-2 in the Bohai Bay have successfully commenced production recently. BZ 26-3 is located in the central part of Bohai Bay, neighboring producing field BZ 25-1S. The field has an average water depth of about 25 meters. The development and production operations of BZ 26-3 mainly rely on the facilities of its surrounding oilfields. With 4 wells online currently


Transocean Reports 4Q & FY 2011 Results

Transocean Ltd. reported a net loss attributable to controlling interest of $6.119 billion, or $18.62 per diluted share, for the three months ended December 31, 2011. The results compare to a net loss attributable to controlling interest of $799 million, or $2.51 per diluted share, for the three months ended December 31, 2010.   • Revenues improved eight percent in the fourth quarter to $2.422 billion compared to $2.242 billion in the third quarter 2011,  


Yara Reports Strong 3Q Results

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 Yara International ASA delivered strong third-quarter results, with record fertilizer deliveries and continued margin benefit from lower European gas price. "Yara reports a strong third-quarter result with record deliveries, reflecting both organic growth and the Bunge acquisition in Brazil," said Torgeir Kvidal, Acting Chief Executive Officer of Yara. "Our European production plants performed well


Indonesia Upbeat Ahead of IORA Chair

Pic: Indian Ocean Rim Association (IORA)

 Indonesia is gearing up to turn its foreign policy focus westward when its role as Indian Ocean Rim Association (IORA) chair begins later this year, reports Jakarta Post.   The country is ready to expand the promotion of President Joko “Jokowi” Widodo’s


UK's Dragon LNG Port May Have Booked Two Cargoes

Britain's Dragon liquefied natural gas (LNG) import terminal shows only two unused import slots available over the next 13 days, compared with four slots advertised earlier this week, a market note showed. The change may indicate that Dragon has booked two cargo arrivals from third-party


'Harmony of the Seas' to be World's Largest Cruise Ship

Harmony of the Seas - Image by Royal Caribbean International

 Royal Caribbean International will outdo itself again when it launches MV Harmony of the Seas in April 2016 which shall officially become the world’s largest cruise ship.     The line says the third vessel in its Oasis class series, to be called Harmony of the Seas


Zvezda Shipyard Comes Up Despite Western Sanctions

Zvezda Shipyard (Pics: Far Eastern Shipbuilding and Ship Repair Center)

 German and Finnish partners continue to build Russia’s Far Eastern “Zvezda” shipyard for Arctic oil exploration ships, in spite of Western sanctions, reports Sputnik.   According to Director of the Far Eastern enterprise Yuri Filecroc


NOL Posts Loss for Third Consecutive Year

Ng Yat Chung, CEO of NOL Group

Neptune Orient Lines (NOL) reported a 2014 net loss of $260 million today, marking the third consecutive year in the red for the Singapore-based global shipping company. NOL, parent company of APL, did reduce its 2014 fourth quarter Core EBIT (Earnings Before Interest


Pirates Pillage Thai Oil Vessel

Thai  tanker Lapin (Pic by PBS)

 Pirates robbed a Thai tanker in Malaysian waters of some 2,000 tonnes of oil it was transporting from Singapore before planting a bomb on the vessel.  According to a statement from Rear Admiral Somchai Na Bangchang, the chief of staff of Thailand's Third Naval Area Command all 15 crew


Sirius Satellite Weather Service Receiver

Furuno - SiriusXM Satellite Weather Receiver - BBWX3

  Whether you are a cruiser looking to avoid a squall on your way back to the harbor, a sailor trying to determine a route with the best wind or a fisherman looking for sea surface temperature breaks, Furuno’s new BBWX3 SiriusXM Marine Weather Receiver has what you need


Weak Vessel Demand Keeps Baltic Index at Record Lows

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, hit another record low on Wednesday as demand for vessels fell ahead of the Lunar New Year holiday. The overall index, which gauges the cost of shipping resources including iron ore, cement


West Coast Port Talks Break Without Settlement

Shipping executives and union leaders for dockworkers at West Coast ports ended a third day of contract talks presided over by the U.S. labor secretary late on Thursday without reaching a settlement, but planned to meet again on Friday, a source close to the situation told Reuters.


Duke Energy Fined for Environmental Violations

  Duke Energy Corp has agreed to pay a fine of about $102 million for environmental violations related to a power plant's coal ash spill into a North Carolina river last year and the company's management of coal ash basins in the state.


India to Make Cruise Tourism Sail

Image by Department of Tourism, Government of Kerala

 With its vast and beautiful coastline, virgin forests and undisturbed idyllic islands, rich historical and cultural heritage, India may get some fillip in cruise tourism in the months to come.   A report in Business Standard says that a high-level meeting of the Bureau of Immigration


S. Korea's Daebo Int. is 3rd Dry-Bulk Shipper to File for Bankruptcy This Month

A third dry cargo shipper has filed for bankruptcy this month following a collapse in freight rates to historic lows in what shippers call the worst market conditions since the 1980s. South Korea's Daebo International Shipping Co Ltd filed a court receivership, a form of corporate bankruptcy


Southern France Gas Trading Hubs to Merge

The two gas trading hubs in the south of France will merge on April 1, power trading group Powernext said on Tuesday, marking a first step towards a unified French gas platform aimed at preventing the large price swings currently seen in the market.  


LNG Destination Clauses May End: IGU

Destination clauses on contracts for liquefied natural gas (LNG)shipments will soon be a thing of the past because of the shale revolution in the United States, the head of the International Gas Union said in an interview. Japan and other buyers of LNG have long complained that the destination


Think Tank: US Port Cybersecurity At Risk

     Coast Guard Commandant Adm. Paul Zukunft delivers the 2015 State of the Coast Guard Address. (U.S. Coast Guard photo by Petty Officer 2nd Class Patrick Kelley.)

Conservative think tank The Heritage Foundation argued for increased U.S. port cybersecurity in a report published online this week.   "The U.S. Department of Homeland Security (DHS) and maritime stakeholders need to stay ahead of [cybersecurity] risks in order to keep trade flow






 
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