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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.


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,  


OOCL Tops the Chart in Reliability

Photo: Orient Overseas Container Line

 According to the latest Carrier Performance Insight, produced by Drewry Supply Chain Advisors,  the most reliable carrier in May was Orient Overseas Container Line (OOCL), which had an on-time reliability average of 81.1%, closely followed by niche carrier Wan Hai at 81.01%. 


Star Bulk Carriers Reports 1Q Loss, Adds 3 Vessels.

Pic: Star Bulk Carriers Corp

 The Athens, Greece-based Star Bulk Carriers Corp. (SBLK) has reported a loss of $48.8 million in its first quarter. The shipping company posted revenue of $46.3 million in the period.   Petros Pappas, Chief Executive Officer of Star Bulk


Russian Sub 'Stary Oskol' Enters Black Sea

Photo: Russian Navy

 Russia’s Stary Oskol submarine, the third boat in Project 636.3 series for the Black Sea Fleet, on a voyage to its permanent base has passed the Bosporus and Dardanelles straits, TASS quoted the Black Sea Fleet spokesman Vyacheslav Trukhachev as saying.  


US Oil Drillers Cut Rigs after 3 Weeks of Additions

 U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices pull back after a recent rally to an 11-month high over $51 a barrel.  


More than 2,000 Migrants Rescued at Sea -Italy Coastguard

File photo: Italian Navy

Ship crews pulled more than 2,000 migrants from overcrowded boats in the Mediterranean on Friday, Italy's coastguard said, as people smugglers stepped up operations during two consecutive days of good weather.   More than 7,100 people have now been plucked from international waters since


Baltic Index up for Third Straight Session

file image (FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, for a third straight session, on rising demand across all vessel segments. The overall index, which factors in rates for capesize, panamax


Expanded Panama Canal Nears Inauguration

Graphics: Panama Canal Authority

 As the global shipping industry facing tough weather, the $5.25 billion expansion of the Panama canal is set to open Sunday (June 26), reports AP. The deeper, wider channel is designed to accommodate the world’s growing fleet of mega cargo ships and expanding trade between North


Boat Migrant Rescues Surge as Calm Seas Return to Mediterranean

Ships manned by humanitarian organisations, the Italian navy and the coast guard helped rescue more than 2,000 boat migrants on Thursday as calm seas returned to the Mediterranean prompting a surge in departures.   The Topaz Responder


Indonesian President to Assert Sovereignty in Islands Visit

The Indonesian president will travel to the Natuna Islands for the first time on Thursday to assert Indonesia's sovereignty, a senior official said, after China said earlier this week it had an "overlapping claim" over nearby waters.  


Shippers Don’t Expect Volume Uplift: Drewry

Photo: Maersk Line Official FB Page

 Shippers tell Drewry survey they don’t expect much of a volume uplift in the third-quarter peak season.   Nearly half of the 51 shippers who responded to our survey said that they expect volumes for the third-quarter peak season to be the same as they were last year


IUMI Position Paper on the Offshore Safety Directive

Photo: European Space Agency (ESA)

 Neil Roberts, Manager, Marine and Aviation, Lloyd’s Market Association (LMA), United Kingdom, and International Union of Marine Insurance (IUMI) Ocean Hull Committee Secretary and Political Forum Liaison discuses  about the position paper published by IUMI.  


Indonesian Navy fires on Chinese boat, injures fisherman

An Indonesian naval vessel fired on a Chinese fishing boat on Friday, injuring one person, China's foreign ministry said, the countries' third reported confrontation this year near a chain of islands as regional tensions mount in the South China Sea.


Shipbrokers Challenge Baltic Exchange

Image: Baltic Exchange Ltd

 Several key dry bulk shipbrokers have formed the Competitive Ship Brokers Limited (CSBL) to challenge the Baltic Exchange over their role in the market as it tries to sell itself to the Singaporean financial giant SGX, reports the Telegraph.  


Giant Cranes Delivered for UK’s New Logistics Hub

Photo: DP World London Gateway

Enormous quay cranes, which arrived at DP World London Gateway on Wednesday morning, will enhance U.K. trade infrastructure   Two more of the U.K.’s most technically advanced quay cranes were brought up the River Thames on Wednesday


US Oil Drillers Add Rigs for Third Week in a Row

U.S. drillers this week added oil rigs for a third week in a row for the first time since August, according to a closely followed report on Friday, as producers seek more drilling permits after crude prices hit an 11-month high over $51 a barrel last week.  






 
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