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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,  


Baltic Index Down for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday for the third straight session, as demand for bigger vessels weakened.   The overall index, which factors in rates for capesize, panamax


UNSC Highlights IMO's capacity-building work in Gulf of Guinea

UNSC statement on Gulf of Guinea Photo IMO

IMO Secretary-General Kitack Lim has welcomed the Presidential Statement from the United Nations Security Council (S/PRST/2016/4) in which the Council strongly condemns acts of murder, kidnapping, hostage-taking and robbery by pirates in the Gulf of Guinea and encourages States in the region and


DNV GL 7 JIPs in North America

New research from DNV GL has revealed that cost management has become an even higher priority for senior oil and gas professionals  Courtesy DNV

In a concerted drive to find smart solutions to safely reduce complexities and cost in the North American oil and gas industry, DNV GL is leading seven new joint industry projects (JIP) from the region in 2016. The initiatives will support overall efficiency efforts in the pipelines


China's CNOOC Expands Fujian LNG Terminal

CNOOCs LNG imports. Photo:Xinhua

 China's biggest liquefied natural gas (LNG) importer CNOOC has started building two storage tanks at a receiving terminal in Fujian province for the super-chilled fuel, the official Xinhua news agency reported.   The new tanks are part of a plan to increase the receiving capacity at


Baltic Index Up On Stronger Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Friday due to higher demand for capesizes and gains across smaller vessel segments.   The overall index, which factors in rates for capesize, panamax


BP Shipping U.S. Crude to PDVSA's Terminal

British BP has shipped a U.S. crude cargo to PDVSA's terminal in Curacao, the third one that the firm has sent since winning a tender along with China Oil last month to provide the Venezuelan state-run company with some 8 million barrels of light oil, according to sources and Reuters data.


Yen Drops on Rate Cut Talk; Oil Climbs

Oil Barrels Photo AOPL

The U.S. dollar rose to a three week high against the yen on Friday, on a report of likely further monetary policy easing from the Bank of Japan, while a rise in crude oil prices was offset by poor technology sector earnings, leaving Wall Street stocks steady.


China's Maritime Expansion Big Worry for the World, Says Japan

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 Japan says its concerns over China's military buildup in the South and East China Seas are shared by many other countries. The issue is expected to be discussed at upcoming talks between the two countries, says a report in Reuters. "Honestly speaking


Iranian Ships to Make Trips to Europe, Americas

Pic: Islamic Republic of Iran Shipping Lines

 Iran all set launch a shipping line to Europe, North and South American countries, as sanctions against Iran’s shipping industry has been recently lifted.   The Islamic Republic of Iran Shipping Lines (IRISL) has resumed its routes to various destinations across Europe


US Battles Russia for European LNG Market

Image: Cheniere Energy

 As the U.S. prepares to enter the European gas markets with its first delivery of liquefied natural gas, Norway and Russia are expected to increase production to lower prices and make exporting less desirable to the U.S., reports Daily Sabah.  


Violent Attacks Worsen in Seas Off West Africa - IMB

Piracy on the world’s seas Courtesy ICC & IMB

 As piracy on the world’s seas continues to fall, new figures from the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) highlight growing violence off the coast of West Africa, where 44 seafarers have been captured so far this year.


37 Piracy Incidents in Q1, Says IMB

Image: International Maritime Bureau (IMB)

Worldwide, International Maritime Bureau (IMB) recorded 37 piracy and armed robbery incidents in the first quarter of 2016, down from 54 in the same period last year. Three vessels were hijacked and 29 boarded, with 26 crew kidnapped for ransom and a further 28 held hostage.  


EU Clears CMA CGM, NOL Merger, with Conditions

File image: a CMA CGM containership (Marad)

The European Commission said on Friday it had cleared French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines on condition that NOL pulls out from a rival shipping alliance. The announcement confirms a Reuters report on April 21 about the impending approval.


Pressure Steady on LNG Shipping Rates -Drewry

LNG shipowners will have to wait until 2018 for earnings to improve, when the majority of new US plants are expected to come online, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry.


Ocean Economy Set to Double in Size by 2030

Image: Organisation for Economic Co-operation and Development (OECD)

 The world’s oceans must be managed well to ensure the potential of an “ocean economy” that was worth US $ 1.5 trillion in 2010.   "Calculations based on the OECD’s Ocean Economy Database value the ocean economy’s output (measured in terms of the






 
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