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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


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


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,  


Kvaerner Still Riding High Offshore in Q3 2013

Norway's Kvaerner report higher operating revenues, higher earnings and higher EBITDA margin in the third quarter of 2013 compared to last year. Kvaerner reported operating revenues of NOK 3 383 million in the third quarter 2013, compared to NOK 2 430 million in the third quarter of 2012. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 166 million, compared to NOK 109 million in the same quarter last year. The EBITDA margin was 4


Norwegian to Buy Prestige Cruises in $3b Deal

Photo: Prestige Cruises

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion deal to expand its high-end luxury cruise offerings. Shares of Norwegian Cruise, the world's third-largest cruise operator


FTA Approves WSF Ferry Terminal Plans

Olympic-class ferry: Photo credit Vigor

In the latest Washington State Ferries Weekly Update, Capt. George A. Capacci, Interim Assistant Secretary WSDOT/Ferries Division briefs as follows: "FTA approves plans to replace Mukilteo ferry terminal The 60-year-old Mukilteo ferry terminal is one step closer to replacement


CMA CGM Continues Expansion, Confirms Profits

Photo: CMA CGM

The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter of 2014.


Policy Uncertainty Threatens to Slow Renewable Energy Momentum

Photo courtesy of IEA

IEA forecast sees renewable power as a cost-competitive option in an increasing number of cases, but facing growing risks to deployment over the medium term. The expansion of renewable energy will slow over the next five years unless policy uncertainty is diminished


Latest Ocean-Going Shipbuilding Orders

Welding: Photo courtesy GLG

Clarkson Hellas notes in its latest 'S&P Weekly Bulletin' shipbuilding orders placed in the dry bulk, tankship, gas carrier and containership sectors, as follows: Dry bulk carriers A couple of orders to report in dry this week with Santoku Senpaku adding further Kamsarmax to their orderbook


Euronav Books Profit from Sale of Chartered Ship

The owner of the 157,258 dwt containership Cap Isabella (built 2013), a vessel which Euronav had on bareboat charter, decided to sell the vessel to an unrelated third party. As announced by Euronav in March 2013, the company is entitled to a share of the profit should the selling price exceed a


Airbus May Sell Stake in Submarine Supplier

Image: Atlas Elektronik

Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die Welt reported on its website on Friday, citing industry sources. Aerospace and defence group Airbus - then called EADS - and German


US Steel Producers Win Anti-dumping Case

The United States has approved anti-dumping duties against South Korea and other producers of steel pipes for the energy sector, a victory for domestic producers hoping to benefit from a boom in the U.S. shale oil and gas industry. U.S. steel companies lodged a complaint in 2013 as foreign


Ningpo Port Truckers Strike, Disrupt Freight

Thousands of truck drivers went on strike over salary and haulage rates in the eastern Chinese port of Ningbo this week, and a logistics firm said on Friday the industrial action was disrupting operations at the world's sixth busiest port.


Chilean Court Rejects Appeal Against Crow River Project

Chile's Supreme Court on Thursday rejected an application for an environmental organization against Crow River hydroelectric project, which plans to build in the south of the country with an initial investment of $ 733 million . In a unanimous ruling


Navios Maritime Reports Better Revenues for 2Q & 1H, 2014

Angeliki Frangou, Chairman of the Board and Chief Executive Officer

  Navios Maritime Holdings Inc. a global, vertically integrated seaborne shipping and logistics company, today reported financial results for the second quarter and six months ended June 30, 2014. Revenue $145.4 million Revenue for Q2 2014; $267.6 million for H1 2014 Adjusted EBITDA


Week's Ocean-Going Shipbuilding Orders Sparse

Bow shot: File photo

Despite some media reports of more significant ordering, there is only one firm shipbuilding order to report in the drybulk sector, according to the latest Clarkson Hellas S&P Weekly Bulletin, as follows: Dry bulk carriers COSCO Zhoushan have announced a contract for two 64


Scorpio Tankers' Latest Newbuilding News

Tankship: Photo courtesy of Scorpio Tankers

Scorpio Tankers Inc.  says it has reached an agreement with an unrelated third party to purchase an MR product tanker that is currently under construction at SPP Shipbuilding Co., Ltd. of South Korea. The purchase price of the vessel is $37.1 million with delivery expected in September 2014


TUI AG Eyes IPO, Sale of Hapag-Lloyd

TUI AG is still open to a sale or flotation of its stake in container shipping company Hapag-Lloyd , its management said on Thursday. "Whichever comes first at a decent price, we will go for it," Chief Financial Officer Horst Baier told analysts after the group reported third-quarter


Honolulu - Neighbor Port Cargo Volumes Flat

Young Brothers, Limited informs that intrastate cargo shipments between Honolulu and six neighbor island ports finished basically flat, experiencing a slight increase of 0.3 percent in the second quarter ending June 30, 2014. “A year ago, the second quarter had significant volume growth






 
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