Second Hand Ship
LONDON, April 7, 2011 - Stolt-Nielsen Limited (Oslo Børs: SNI) today reported unaudited results for the first quarter ended February 28, 2011. Net profit attributable to shareholders in the first quarter was $31.2 million, with revenue of $458.7 million, compared with $33.0 million and $459.4 million, respectively, in the fourth quarter of 2010. Highlights for the first quarter of 2011, compared with the fourth quarter of 2010, were: * Stolt Tankers reported an operating loss of $1.0 million, compared with an operating profit of $11.0 million. First-quarter results reflected the impact of higher bunker fuel prices, weather-related delays and port congestion. * The Stolt Tankers Joint Service Sailed-in Time-Charter Index was 1.09, compared with 1.17. * Stolthaven Terminals' operating profit rose to $16.5 million from $14.4 million, driven by revenue growth at the division's wholly owned terminals and lower operating expenses. * Stolt Tank Containers reported an operating profit of $18.5 million, down from $21.0 million, though underlying market dynamics remained strong. * Stolt Sea Farm reported an operating profit of $1.5 million, down from $3.9 million, reflecting the negative impact of $1.9 million from the fair value accounting for inventories, compared with a prior positive impact of $2.5 million.
Private equity has pumped $32 bln into shipping in past 2 years. Ships totaling 299 mln dwt to enter global fleet from May. Some private equity-backed shipping IPOs have been put off on weak sentiment. The shipping industry faces a looming capacity glut as billions of dollars pumped into it by private equity have stoked a vessel-buying spree, threatening its prospects just as the sector is emerging from its worst downturn in three decades.
General Maritime Corporation has agreed to acquire 19 tankers, including 14 Suezmax and 5 Aframax vessels from Metrostar Management Corporation, a Greek tanker operator. The acquisition of the vessels is expected to commence on March 1, and to be concluded by April 30, 2003 during which time the vessels will be integrated into General Maritime's fleet operations. The acquisition of the tankers will be made for cash and is subject to the customary conditions of delivery
GulfMark Offshore, Inc. (NYSE: GLF) announced the initiation of a vessel construction program. The first three vessels in the program will be built by Remontowa Shipbuilding SA in Gdansk, Poland, and consists of two 1000 square meter deck area platform supply vessels of the MMC887CD design and one MMC879CD design with a deck area of over 800 square meters. These large and technologically advanced vessels have been designed to meet the demanding requirements for supporting deepwater and
DSME begins work on construction of the world's largest container ship Daewoo Shipbuilding and Marine Engineering has begun constructing the world's largest container vessel after receiving the order from Denmark's AP Moller-Maersk, the shipbuilder has announced. When completed, the 18,000 TEU container ship will measure 400 m in length and 59 m in width, with a deck wide enough to accommodate four football fields
The U.S. Centers for Disease Control and Prevention (CDC) issued guidelines for maritime personnel regarding severe acute respiratory syndrome (SARS). The three guidelines are somewhat redundant with each other. The first focuses on Personnel Boarding Maritime Vessels from Areas with SARS . The second focuses on Workers Handling Cargo or Other Packages . The third focuses on Cruise Ship Passengers and Crew Members . The guidelines point out
The first of BC Ferries’ three new Super C-class vessels, Coastal Renaissance, was officially launched at a special ceremony in Germany. Representatives from BC Ferries and the shipyard were on hand to witness this major event as the ship was launched into the water for the first time. The Coastal Renaissance is scheduled to leave Germany for Canada in late October and is expected to be in service in early 2008. The second and third vessels will be arriving in B.C. in early and mid 2008
Seaarland Shipping Management and Nordic Tankers signed a joint venture that will see both of these companies enter the Handysize product carrier market. The joint venture will involve investment in modern second-hand vessels as well as new buildings. The vessels will be jointly owned by both partners in varying proportions. The first acquisition by the joint venture, the 2000-built 35,820 dwt Hanne, is to be concluded soon
The Vietnam Oil and Gas Corporation (PetroVietnam) on July 4 awarded a contract to the Vietnam Shipbuilding Industry Corporation (Vinashin), for the construction of three 105,000-ton oil tankers. The oil tankers, to be built at the Dung Quat Shipyard, are to be equipped with state-of-the-art facilities satisfying latest international maritime conventions. According to Vinashin, oil tankers of this kind are normally priced and sold for $60-65m each in the world market
Hyundai Heavy Industries (HHI) announced the Company won a $700 million order for five 18,400 TEU containerships from China Shipping Container Lines (Hong Kong) Co., Ltd. The world’s largest containerships will feature an electronically-controlled main engine and two EcoBallast seawater treatment system. The electronically-controlled main engine will maximize fuel efficiency, and reduce noise, vibrations, and carbon emissions by automatically controlling fuel consumption to suit
The Navy's X-47B unmanned aircraft has completed its final test aboard 'USS Theodore Roosevelt' (CVN 71) and has returned to its home base at Naval Air Station Patuxent River after eight days at sea , informs U.S. Naval Air Systems Command.
KKR and Borealis Maritime today announced the acquisition of a portfolio of nine feeder container vessels in a sale process coordinated by Commerzbank. The vessels were previously owned by a number of German KG funds and were originally financed by Commerzbank
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.
Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Profit & loss Q2 2014 Operating revenue for Q2 2014 was USD 272 million (USD 289 million), a decrease of USD 17 million, or 6 %. Operating revenue decreased due to reduced engineering- and
KKR and Borealis Maritime say they have acquired a portfolio of nine feeder container vessels in a sale process coordinated by Commerzbank. The vessels were previously owned by a number of German KG funds and were originally financed by Commerzbank
Eastern Shipbuilding Group, Inc. (ESG) informs that a steel hull replica of the historic Gloucester Fishing Schooner COLUMBA has been launched at its Panama City, Florida, shipyard with employees, dignitaries and guests in attendance. The original COLUMBIA was a 141’ classic Gloucester
Revenues for the second quarter of 2014 were US$1,222 million compared to US$1,221 million in the first quarter of 2014, according to the company's financial report. Operating profit for the quarter was US$476 million compared to US$890 million in the preceding quarter
On August 25, 2014, the naming ceremony for the Pskov high-tech liquefied natural gas (LNG) carrier was held at the South Korean shipyard STX Offshore & Shipbuilding. The ceremony was attended by Aleksander Medvedev, Deputy Chairman of the Gazprom Management Committee, Evgeniy Ambrosov
Höegh LNG reported USD 32.3 million in total income in the second quarter 2014, down from USD 42.7 million in the second quarter 2013. The decrease is mainly due to USD 16.2 million lower construction contract revenues. "We reached an important milestone when the complex FSRU
The FARO 3D Documentation Conference, to be held October 13-15, 2014, was created as a forum for sharing knowledge, best practices and insight into the world of laser scanning and 3D documentation. Over the course of two days at Disney’s Swan & Dolphin Resort, Lake Buena Vista, Fla
Shares rise 5 pct after improved guidance, better quarter than expected. Maersk indicates more buybacks after first in its history. Efficiency, cost savings boost Maersk Line compared to rivals. Denmark's A.P. Moller-Maersk announced the first share buy-back in its 110-year history on Tuesday
Danish shipping and oil group A.P. Moller-Maersk reported a second-quarter net profit above forecasts thanks to better profits in its container shipping business Maersk Line. Net profit rose to $2.25 billion, Maersk said on Tuesday, beating an average forecast of $2
The first loaded vessel has departed Archer Daniels Midland Company’s (ADM) new export terminal in Barcarena, in the northern Brazilian state of Pará. ADM explains that the terminal is a significant addition to ADM’s expanding logistical network in Brazil
Conrad Industries, Inc. announced its second quarter and six months 2014 financial results and backlog at June 30, 2014. For the quarter ended June 30, 2014, Conrad had net income of $6.8 million and earnings per diluted share of $1.14 compared to net income of $6
MAN Diesel & Turbo says it has donated the equivalent of $115,000 dollars in service, spare parts and training to keep the engines of the hospital ship 'Africa Mercy', operated by Mercy Ships, in top condition to continue its charity work in Africa.