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
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
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
The Association of Small Business Development Centers (ASBDC) will host an Automated Export System (AES) Compliance Seminar and an AESPcLink Workshop in Washington, DC on September 26-27, 2013. U.S. Census Bureau experts will cover the filing requirements of the Foreign Trade Regulations (FTR), how to classify your commodities by providing an understanding of the Schedule B classification requirements, and provide a thorough overview of the AES.
Eastern Canada Towing Ltd. (ECTUG) has purchased a newly-built azimuthing stern drive (ASD) harbor tug at a cost of $3.7 million. Named Point Valiant and handed over to ECTUG in December 1998, she has a bollard pull of 45 tons and will be based in the Port of Halifax. Point Valiant replaces a much smaller tug, the 1962-built 24-ton bollard pull single screw Point Vigour. Point Valiant is the second of two identical tugs built by Ocean Industries Inc
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
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
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
Orica Australia Pty Ltd has been convicted and penalised $768,250 in relation to charges brought by the NSW Environment Protection Authority (EPA) for pollution incidents at Orica’s Kooragang Island and Botany plants. This includes a fine of $211
Royal Dutch Shell informs that its second quarter 2014 earnings, on a current cost of supplies (CCS) basis, were $5.1 billion compared with $2.4 billion for the same quarter a year ago. Earnings included an identified net charge of $1.0 billion after tax
International Shipholding Corporation (ISC) has announced financial results for the quarter ended June 30, 2014, summarized here: Net Loss he Company reported a net loss of $664,000 for the three months ended June 30, 2014. For the comparable three months ended June 30, 2013
Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability. 2014 third quarter earnings per share guidance range of $1.30 to $1.40 compared with $1
When Sennebogen LLC opened its new headquarters in Stanley, N.C., in 2009, the facility was equipped with one of America’s premier OEM Training Centers for heavy equipment. Since then, more than 1,000 technicians have attended the hands-on courses in material handler maintenance and
General Dynamics today reported 2014 second-quarter earnings from continuing operations of $646 million, or $1.88 per share on a diluted basis, compared to second-quarter earnings from continuing operations in 2013 of $640 million, or $1.81 per diluted share
Almost 100,000 boat people have made the dangerous journey across the Mediterranean to Europe this year, a roughly 60 percent increase on the whole of last year, and about 800 have died in the attempt, the U.N. refugee agency said on Thursday.
Cat Financial reported second-quarter 2014 revenues of $728 million, an increase of $34 million, or 5 percent, compared with the second quarter of 2013. Second-quarter 2014 profit after tax was $146 million, a $35 million, or 32 percent, increase from the second quarter of 2013.
Statoil's second quarter 2014 net operating income was NOK 32 billion, a decrease of NOK 2.3 billion compared to the second quarter of 2013. Adjusted earnings were NOK 32.3 billion. “Statoil delivered solid operational performance in the quarter
Statoil's second quarter 2014 net operating income was NOK 32.0 billion, a decrease of NOK 2.3 billion compared to the second quarter of 2013. Adjusted earnings were NOK 32.3 billion. “Statoil delivered solid operational performance in the quarter
One sign of change in Iran as it works toward a nuclear deal with world powers is the way it is feeding itself, with private grain firms beginning a slow return to their traditional role as major food commodity importers. Iran was never barred from buying food under sanctions imposed by the
Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013. The increase year-over-year was driven by stronger demand in on-highway markets and distributor acquisitions in
Greece-based Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has reported net income of $0.6 million for the second quarter of 2014, compared to a net loss of $5.0 million for the respective period of 2013
The driver of a South Korean businessman wanted over the sinking of a ferry that killed 304 people turned himself in on Tuesday, potentially unlocking the mystery of the businessman's final days after the country's worst maritime disaster in 44 years.
Resolve Maritime Academy informed it has started building a new, two-story wet trainer, larger and more expansive than its original, the L/V Gray Manatee. “We are incredibly proud to offer a course that combines stability and damage control using our new two-story wet trainer