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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.


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


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


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.


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


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


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


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,  


Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

  German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said. Chief Executive Frank Asbeck justified his intention by saying Chinese panel makers would still receive


Severe Flooding Cuts Off Lone Road to Alaska's Oilfield

Bill Walker photo Wikipedia

  Alaska's lone road to North Slope oil field operations remains closed for the third time in two months while emergency crews continue to redirect flooding from an adjacent river, state officials said on Friday. Alaska Governor Bill Walker's office said he would sign a second disaster


Mobil Says Oil Discovery off Guyana is 'Significant'

Photo by ExxonMobil

 Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast.     The discovery could put Guyana on oil and gas Map and the country could become a player


Inmarsat 3rd Global Xpress Satellite's Launch Delayed

“ This incident involving a failed Proton launch from the Baikonur Cosmodrome is extremely unfortunate and will inevitably delay our launch plans for our third Global Xpress satellite.

  Inmarsat has provided an initial update on the launch schedule for Inmarsat-5 F3 (I-5 F3) following the failure of the preceding Proton Breeze M launch from the Baikonur Cosmodrome in Kazakhstan on Saturday 16 May. According to an announcement by Inmarsat’s launch partner, ILS


Electric & Hybrid Propulsion Ordered fir CMAL Ferry

The keel of the third hybrid ferry at Ferguson Marine Engineering (Photo: CMAL)

Imtech Marine informs it has been awarded a third contract to supply the electric and hybrid propulsion system for a hybrid ferry operated by Caledonian Maritime Assets Ltd (CMAL) of Scotland.   Ferguson Marine, the Glasgow-based yard which built the first two CMAL diesel electric


Italy: 900 Migrants Rescued at Sea, One Dead

More than 900 migrants were rescued in one day from three overcrowded boats en route to Europe from North Africa, an Italian coast guard official said on Thursday. One body was recovered. All the rescues were carried out on Wednesday, the official said


Maersk Line to Increase Asia-Europe Rates

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Shipping company Maersk Line, owned by A.P. Moller-Maersk, plans to increase freight rates for transporting containers from Asia to Northern Europe by $800 per 20-foot equivalent unit (TEU) from June 1, it said on Tuesday. With a fleet of more than 600 vessels


BP, Sinopec in Singapore-based Bunkers JV

British oil major BP and China's Sinopec Fuel Oil are starting a Singapore-based joint venture in ship fuel storage and sales, BP said in a statement on Tuesday. The 50/50 joint venture, which builds on a similar agreement signed in 2011, will leverage both companies' existing bunkering


EU Approves CO2 MRV Regulation

The European Council approved a new shipping regulation on the monitoring, reporting and verification (MRV) of CO2 emissions on April 28, 2015, as part of its overall strategy to reduce greenhouse gas emissions by 2050.   The regulation, slated to enter into force on July 1


Mistral Deal - A Storm Brewing at Sea

Mistral helicopter carriers. Pic by Defence Market Intelligence

 While France is seeking a way to cancel its contract to deliver two helicopter carriers to the Russian navy, Russia wants 1.163 billion euros ($1.32 billion) from France in compensation for nixing the deal.   President Francois Hollande is under pressure from Western allies to scrap


Singapore Demands Investigation into Shooting Incident

Alpine Eternity Photo: South Maritime Pte Ltd

 Singapore Maritime and Port Authority (MPA) has condemned Iranian forces for firing warning shots in the Gulf at a Singapore-flagged Alpine Eternity which it said was in international waters, calling it a “serious violation of international law”.  


Glencore Calls for Price Regulation in Newcastle Port

Photo credit: The Port of Newcastle

 Coal mining giant Glencore has now applied to have the competition watchdog oversee pricing in the  newly privatised Port of Newcastle, reports  The Sydney Morning Herald.   The NSW port is hiking some shipping charges up to 60 percent after its $1


Offshore Oil & Gas: Floating Production Market a Bright Spot

Safe stroll: crew aboard the Maersk Peregrino FPSO off Brazil (and above) Photo: Oeyvind Hagen Statoil

Despite industry gloom about the offshore market, orders for production floaters continue to flow.  Over the past few weeks a speculatively-ordered FLNG found use off Africa, negotiations began to convert a third LNG carrier to an FLNG, an FSRU was ordered and a modified LNG tanker has been


Floating Storage Picks Up

Floating Storage: Source: Bloomberg / Poten & Partners

 Surprisingly, it seems that the use of VLCCs for floating storage has increased in recent weeks, says a report by Poten & Partners    Information about the ships reveals that about every third vessel on charter contract earlier this year is now being used for floating storage


Diana JV with WSM

Aliki Vessel. Photo by Diana Shipping Inc

 Dry bulk shipping company Diana Shipping and Wilhelmsen Ship Management (WSM) have joined forces in a new 50/50 joint venture named Diana Wilhelmsen Management Limited (DWM).   DWM, to be based in Limassol, Cyprus, and will commence operations by the end of June






 
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