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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.


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.


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


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


Container Shipping Outlook Uncertain in 2015: AlixPartners

Photo courtesy of Maersk Lines

  The outlook for the global container shipping industry remains challenging for the remainder of 2015, according to a new report from AlixPartners.   In its annual outlook for the industry, the global business-advisory firm predicts that operating improvements will continue to prove


Big Spending on Liquefaction Terminals

Capital expenditure (Capex) on global liquefied natural gas (LNG) facilities is expected to total $259 billion over the forecast period 2015-2019, according to the new ninth edition of Douglas-Westwood’s (DW) World LNG Market Forecast 2015-2019


Greek Ferry Still Stuck

  The Greek ferry that ran aground just outside of port on the Aegean Island of Kassos Wednesday night is still stuck. The 227 passengers and 55 crew aboard the Vitsentzos Kornaros are facing the prospect of a third night stuck on the ferry


Is China Building a Naval Base in Africa?

Image: The China Africa Project

 Recently, The Namibian reported the existence of a "confidential letter from Namibia's ambassador to China, Ringo Abed, to Namibia's foreign minister stating that 'a Chinese delegation will visit Namibia ... for discussions ... on the way forward regarding plans for the proposed naval


Court Rejects Boskalis' Bid for Vote on Fugro's Defences

A Dutch court on Tuesday rejected a bid by Dutch marine engineer Boskalis to have a shareholder vote on anti-takeover protections in place at smaller rival Fugro, in which it holds a 20 percent stake.   The legal challenge was closely followed because of the potential for it to set a


US Urges Asia for a Joint Move in South China Sea

South China Sea Tensions:  Council on Foreign Relations

 The commander of the U.S. Navy Seventh Fleet Vice Admiral Robert Thomas urged Southeast Asian nations to form a combined maritime force to patrol areas of the South China Sea where territorial tensions flare with China, reports Bloomberg.  


COMSYS Report Confirms Intellian's Leadership

Courtesy Intellian

  The 4th Edition of the COMSYS Maritime VSAT Report confirms Intellian as the leading company within the stabilised antenna market, with a 35.6% share of the market. “Intellian now leads the market under a single brand having achieved spectacular results since 2012


Third Superyacht under Construction at Sunrise Yachts

Sunrise 45m Atomic:  Sunrise Yachts

 After successful launches of two 45m Sunrise vessels – superyacht Africa (2009) and luxury yacht Atomic (2014) – the Turkish shipyard has recently laid the keel of the third 45m motor yacht at its yard in Antalya, with a scheduled completion time of 26 months.   


Diana Containerships Adds Two Panamax Ships

Diana Containerships Inc. announces agreement to acquire two Panamax container vessels   Through two separate wholly-owned subsidiaries, Diana Containerships Inc. has signed two Memoranda of Agreement to purchase two Panamax container vessels from an unaffiliated third party.  


New Cruise Terminal at Abu Dhabi’s Port

The new cruise terminal at Port Zayed in Abu Dhabi. Courtesy ADPC

 The new cruise terminal at Zayed Port in Abu Dhabi, which will be capable of handling 2,500 passengers and three ships simultaneously, is set to become operational by the end of the year, according to a report in the National.  


EU Regulators Order Cosco to Pay for Greek Benefits

Image: Piraeus Container Terminal (PCT)

 European Union state aid regulators have ordered Greece to recover certain illegal fiscal benefits granted to Piraeus Container Terminal (PCT) and its parent company Cosco Pacific Ltd, says a report in Reuters.   The European Commission found that Greece inappropriately granted tax


Mega Ships and Cyber Attacks Pose New Threats

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Shipping losses continued their long-term downward trend with 75 reported worldwide in 2014, making it the safest year in shipping for 10 years, according to Allianz Global Corporate & Specialty SE’s (AGCS)  third annual Safety and Shipping Review 2015


South East Asia Shipping Piracy Hotspot

Image:  Allianz Global Corporate & Specialty (AGCS)

 Piracy attacks in South East Asian waters are up year-on-year, as are incidents in the Indian subcontinent, with Bangladesh a new hotspot, reveals Allianz Global Corporate & Specialty SE’s (AGCS) third annual Safety and Shipping Review 2015.  


Shipping Losses Lowest in 10 Years

Graph: Allianz Global Corporate & Specialty

 2014 was the safest for world shipping in a decade according to the Allianz Global Corporate & Specialty SE’s (AGCS) third annual Safety and Shipping Review 2015. Global shipping losses continued their downward trend with 75 reported in last year.  


Senate Confirms Doyle to Another Term

William P. Doyle

The United States Senate confirmed William P. Doyle to another term in office as a Federal Maritime Commissioner on the evening of March 23, 2015.  The vote was a unanimous 89 in favor, 0 opposed, and 11 senators not voting.   Upon confirmation, Commissioner Doyle said






 
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