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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


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


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


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.


Navigator Reports Profits for Q3

Photo: Navigator Holdings Ltd

 Navigator Holdings Ltd. (NVGS) has reported third-quarter ended September 30, 2016profit of $6.5 million, with earnings per share of $0.12.   The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share. EBITDA was $30.4 million for the three months ended September 30, 2016.   The transportaion company for the natural gas and and chemical industry posted revenue of $69


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


Laugfs Buys Third LPG Carrier Vessel

Photo: LAUGFS Holdings

 Laugfs Maritime Services, the shipping division of Sri Lanka’s Laugfs Gas,  has purchased its third Liquefied Petroleum Gas (LPG) carrier vessel for USD 2.875 million, reports  Lanka Business Online quoting company sources.  


2016 Review: Lots Of Records But Not All Welcome!

Table: Clarksons Research

 There have been plenty of record breaking facts and figures to report across 2016, unfortunately mostly of a gloomy nature, says Clarksons Research.   From a record low for the Baltic Dry Index in February to a post-1990 low for the ClarkSea Index in August


Maersk, Alibaba Team up to offer Online Booking

File Image: A maersk vessel alongside working cargo (Maersk)

Maersk, the world's largest container shipping line, has teamed up with Alibaba to allow customers to reserve space on its vessels through the Chinese company, illustrating growing cooperation between e-commerce and logistics firms.  


Nigeria to Pursue peace in restive Oil-producing Delta Region

Nigerian President Muhammadu Buhari Photo Nigerian goverment website

Nigeria's government will seek a lasting peace settlement with militants in the oil-producing southern Niger Delta region in 2017, President Muhammadu Buhari said in a New Year's message on Saturday. Attacks on oil facilities in Nigeria's energy hub, coupled with low oil prices


France May Step in on Shipyard Sale

Christophe Sirugue (Photo: Gouvernement.fr)

France may intervene in the sale of the Saint-Nazaire shipyard by bankrupt South Korean shipbuilder STX if the French government's conditions are not met, Industry Minister Christophe Sirugue said. "The government is fully mobilised and will not hesitate to use all of the levers at its


Hanjin Sells Operations at Port of Seattle

Photo: Port of Seattle

Bankrupt South Korean shipping company Hanjin will sell its operations of the Port of Seattle’s Terminal 46 to Switzerland-based Mediterranean Shipping COmpany (MSC) subsidiary Terminal Investment Limited (TIL), reports AP.  


Only One Bidder for STX France

Photo: STX Offshore & Shipbuilding

 The South Korean court handling the bankruptcy proceedings of STX Offshore & Shipbuilding Co. said that only a single bidder had submitted a binding proposal to buy the shipyard's profitable French unit, says a report by AFP.  


Shipping Confidence Improved: Moore Stephens

Graphics: Moore Stephens

 Shipping confidence improved for the third successive quarter in the three months to end-November 2016, says a report by Moore Stephens, an accounting and advisory network in UK.   In November 2016, the average confidence level expressed by respondents was 5.6 out of 10


HMM Looks for Profit in Q1

Photo: HYUNDAI Merchant Marine CO.,LTD

 Hyundai Merchant Marine Co. (HMM) expects its profitability to improve slightly in the first quarter of next year on the back of an improvement in freight rates and its cost-cutting measures, reports Yonhap, quoting its chief executive Yoo Chang-keun.  


No Operating Income from Hanjin Vessels: Danaos Corporation

Photo: Hanjin Shipping Co. Ltd

 Danaos Corporation reports its results for the third quarter of 2016 in the aftermath of the bankruptcy of Hanjin Shipping, one of Danaos' large customers.    Danaos' CEO Dr. John Coustas says: "As a result of the bankruptcy


Kongsberg Adds CO2 Emissions App to K-Fleet

K-Fleet (Photo: Kongsberg Maritime)

Kongsberg Maritime has developed a new Carbon Dioxide (CO2) Monitoring, Reporting and Verification (MRV) application for its K-Fleet suite of Marine Fleet Management Software.   K-Fleet MRV has been assessed as meeting the requirements of new EU-regulation 2015/757


Maersk to Lower CapEx, Consider Dividend Cuts to Retain Credit Rating

File Image (Maersk)

The world's biggest container shipper A.P. Moller-Maersk may consider selling assets or cutting dividends as it seeks to retain its credit rating, the company said on Tuesday. Maersk's Baa1 credit rating was put under review for a downgrade by Moody's in September


Taiwan Shipping in Troubled Water?

Pic: EverGreen

 Taiwan's shipping lines aren't looking quite so young and fresh as they were earlier, reports Bloomberg.   While the global container industry has embarked on a spree of pairings and menages-a-trois over the past 12 months, Taiwan's shipping lines have remained proudly single.


Hyundai Near Deal With Iran for 10 Ships

Photo: Hyundai Heavy Industries Co

 Hyundai Heavy Industries Co. (HHI), a major shipyard in South Korea, looks set to clinch a deal with Iran to supply 10 ships, says a report in Yonhap.   The contract, valued at USD650 million, will see Hyundai supply the Islamic Republic of Iran Shipping Lines, (IRISL) with four 14


GOGL Sinks into Loss

Photo: Golden Ocean Group Limited

Dry bulk shipping company Golden Ocean Group Limited, while announcing its preliminary results for the quarter ended September 30, 2016, informed that it suffered a net loss of $26.7 million and a loss per share of $0.25    Highlights  






 
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