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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


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


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


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


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.


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,  


DP World Logs 3.0% Growth

DP World Jebel Ali Photo DP World

DP World Limited handled 61.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during 2015, with gross container volumes growing by 3.0% on reported basis and 2.4% on a like-for-like  basis.


China's LNG Demand Falls

Graph: EIA, IHS

 China's import of  liquefied natural gas (LNG) fell 1.1% in 2015, marking the first year-on-year decline since imports began in 2006, according to a report by the US Energy Information Administration (EIA).   Chinese LNG imports have grown steadily in the last 10 years, from 0


ICS Publishes Flag State Performance Table

ICS Table - cover.jpg

The International Chamber of Shipping (ICS) has published its Shipping Industry Flag State Performance Table for 2015/2016, which can be downloaded free of charge via the ICS website. The ICS Table provides an annual overview of the performance of the world’s ship registers against a


Maersk, MSC, 13 Others Offer to Settle EU Probe

File image (Marad)

Companies offer to announce actual prices, not future plans. Shipping container groups Maersk, MSC and 13 other companies have offered to change their pricing practices to settle an EU antitrust probe and stave off possible fines, two people familiar with the matter said on Wednesday.


APM Terminals Pipavav Project Profit

APM Terminals Pipavav (Gujarat Pipavav Port Ltd) is part of an international network operated by APM Terminals BV

APM Terminals Pipavav (Gujarat Pipavav Port Ltd) Oct-Dec 15 Net Profit at INR 533 million and Income from Operations at INR 1,521 million   January 28, 2016: APM Terminals Pipavav (Gujarat Pipavav Port Ltd), operating one of western India’s gateway ports


Asia-Europe Box Rates Fall Again

File Image (Maersk)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 13.9 percent to $469 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.


Yangtze to Ship Direct Containers

Photo: Taicang Container Lines Co. Ltd

 Taicang Container Lines Co. Ltd has rolled out the  first direct container shipping line linking China's Yangtze River basin and Southeast Asia, reports Xinhua.   The container ship departs once a week from and arrives at Taicang Port in east China's Jiangsu Province


AIDA Prima on Fire - Third Time!

Image: AIDAprima

 AIDA Prima, a new ship for Carnival Corp.'s AIDA Cruises brand, was damaged by a fire early Sunday at Mitsubishi Heavy Industries Ltd.’s shipyard in Nagasaki, the Japan Times reports.    The fire reportedly was quickly extinguished by workers, with no injuries


Subsea 7 to Exit Singapore for Kuala Lumpur

Photo: Subsea 7

 Rising costs of doing business in Singapore has forced Subsea7 to switch its regional headquarters from the city to Kuala Lumpur (KL), says a report in Business Times.   Against a backdrop of persistently low oil prices, fresh concerns have emerged over Singapore's competitiveness as


LNG Shipping Rates to Remain Under Pressure in 2016

LNG shipping earnings will remain under pressure in 2016 as accelerating fleet growth and changing trade patterns will weaken supply-demand conditions, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry.


Italian Yacht Maker Ferretti Creates Defence and Security Unit

Italian luxury yacht builder Ferretti, owned by Chinese industrial conglomerate Weichai Group, has created a new unit to build boats for the patrol and defence of international waters, lands and coastlines, it said on Wednesday.   Ferretti Security and Defence (FSD) will design


First of 3 New Pilot Boats Launched for Milford Haven

St Brides (Photo: Mainstay Marine)

St Brides, the first of three 19-meter pilot boats built by Mainstay Marine for the Port of Milford Haven, has recently been launched.   Shipbuilder Mainstay Marine Solutions called the £3.6 million contract a flagship project, with delivery for the second and third vessels due in


June Deadline for Panama Canal Expansion

Photo: Panama Canal Authority

 The Panama Canal expansion project is now expected to be finished “mid of 2016” says a report in Reuters quoting the waterway's administrator.    "The new set of larger locks for the Panama Canal will be complete by the end of June


Russia Confirms Tanker Seized by Niger Delta Militants

MT LEON DIAS. Photo taken from Youtube video

 Russia’s embassy in Nigeria confirmed on Thursday that the Greek-owned oil tanker Leon Dias has been hijacked in the Gulf of Guinea, reports TASS.   There are reports that the oil tanker hijacked by suspected militants from the Niger Delta has been freed and is now located some 7


Asia-Europe Box Rates Down 8 pct

The containership Maersk Kalmar. Maersk controls around a fifth of containers transported from Asia to Europe. (file image)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.






 
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