Sino-Global Shipping America, Ltd. (NASDAQ:SINO) a leading, non-state-owned provider of shipping agency services operating primarily in China, announced selected unaudited financial results for its second fiscal quarter of 2009 ended December 31, 2008. Highlights for the second quarter of 2009: Revenues were US$4.5 million, an increase of 7.7% from $4.2m in the second quarter of 2008. Gross margin was 9.4%, compared to 20.9% in the second quarter of 2008. Basic and diluted losses per share were US$0.30, compared to basic and diluted earnings per share of US$0.20 in the same period in 2008. Despite the global economic downturn, the number of ships served increased to 47 from 44 in the second quarter of 2008. On October 9, 2008, Sino-Global announced a program authorizing the company to repurchase up to 10% of its outstanding common stock over a 12-month period. As of December 31, 2008, Sino-Global had repurchased 55,100 shares. These purchases reflect the Company's confidence in its future growth prospects. Mr. Cao Lei, Sino-Global's chief executive officer, said ''The second quarter proved to be a challenging one as the global economic crisis continued to take a toll on global demand for commodities and shipping to and from China. Despite this, we are seeing the results of our expansion strategy, which kept our top line growing in the face of challenging macro conditions
Many oil companies reported a decrease in net income for the second quarter, compared to the previous year's results, although - in most cases - the second quarter still outperformed the first. While the decreases ranged in percentage, only a few companies' results were virtually unchanged from the previous year's performance. However, higher crude oil prices resulted in many companies' exploration and production net income actually increasing over the previous year.
Diamond Offshore Drilling Inc., the world's largest offshore oil driller by market capitalization, reported its second quarter earnings fell more than 50 percent. Net income dropped to $53.2 million from $111.7 million in the same period of 1998. Revenues for the second quarter fell to $215.3 million from $323.5 million in the second quarter of 1998. The company did not comment in its earnings statement on business during the second quarter or on the outlook for the remainder of the year.
Arlington Tankers Ltd. announced financial results for the second quarter and the six months ended June 30, 2007. For the quarter ended June 30, 2007, the Company's total revenues were $17.8 million, consisting of $16.5m in basic vessel charter hire and $1.3 million in additional charter hire that the Company received under its profit sharing arrangements. On the basis of the second quarter results, Arlington's Board of Directors has declared a cash dividend of $0.59 per share
Arlington Tankers Ltd. reported an increase in second quarter profit helped by a $7.3 million unrealized gain, even as revenue decreased from the prior year. The company declared a dividend for the quarter. Second quarter net income for , Bermuda-based increased 35% to $11.52 million or $0.74 per share from $8.53 million or $0.55 per share from the same quarter a year ago. The company recorded a gain on interest rate swap of $7.28 million in the second quarter of 2008.
Kirby Corporation (NYSE:KEX) announced net earnings for the second quarter ended June 30, 2009 of $33.7 million, or $.63 per share, compared with net earnings of $40.3 million, or $.74 per share, for the 2008 second quarter. Kirby's published 2009 second quarter guidance range was $.52 to $.62 per share. Consolidated revenues for the 2009 second quarter were $272.7 million compared with $348.3 million reported for the 2008 second quarter.
Trailer Bridge, Inc. reported its financial results for the second quarter ended June 30, 2001. Total revenue for the three months ended June 30, 2001 was $21,659,184, as compared to $23,764,889 for the second quarter of 2000. Compared sequentially to the first quarter of 2001, total revenue increased $1,022,471 or 5 percent. Trailer Bridge had 14.4 percent more overall vessel capacity deployed between the mainland and Puerto Rico with weekly Northeast sailings compared to bi-weekly sailings
Stelmar Shipping Ltd. announced operating results for the second quarter ended June 30, 2003. Stelmar reported its 34th consecutive quarter of profitability since inception and 10th quarter since going public in March of 2001. For the second quarter of 2003, including a non-operating loss from the sale of a vessel, the Company reported net income of $4,489,000, or $0.26 per diluted share. Excluding the non-operating loss, the Company earned net income of $11,744,000, or $0
Stratos Global Corp. announced financial results for the second quarter ended June 30, 2006. For the quarter, the corporation reported revenue of $139.3m, a 50 percent increase compared with the $92.7m achieved in the same quarter of 2005. This growth primarily reflected the recently completed Xantic acquisition, which was consolidated with Stratos beginning February 14, 2006. The corporation also reported a net loss of $4.1m, or $0
Knightsbridge Tankers Limited reported net income of $7.9 million and earnings per share of $0.46 for the second quarter of 2006. The average daily time charter equivalents earned by the company's five VLCCs was $42,800 compared with $54,300 in the immediately preceding quarter. The second quarter earnings reflect the weakening of the tanker market that occurred in the first quarter and early into the second quarter of 2006 before a steady recovery that continued through the end of the
The Sea Tantalus is the first of a series of Vard Group (STX) designed platform supply vessels being built at Cochin Shipyard Ltd. in India. The distinctive hull configuration is being built in countries around the world, and the Indian version is the first of four from Cochin.
Cargotec's MacGregor has received €37 million order from Hornbeck Offshore Services Inc. to deliver four 250-ton active heave-compensated (AHC) subsea cranes for four multi-purpose supply vessels (MPSV). The cranes will be delivered between fourth quarter 2014 and third quarter 2015
Tideworks Technology, Inc., a provider of full-service terminal management and planning software solutions, announced that California’s Port of Stockton will deploy Tideworks Technology’s terminal operating system (TOS) to manage its container-on-barge operation and improve overall
Hercules Offshore agrees sale of 11 inland barge rigs, which includes three active rigs, eight cold stacked rigs and related assets (Inland Asset Package) for cash proceeds of approximately $45 million. Excluded from the 'Inland Asset Package' are the Hercules 27
Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, signs contract with an oil major for the semi-submersible drilling rig 'Erik Raude'. The drilling contract is for a one-well program, with an estimated duration of up to 6 months, for drilling offshore Ireland
Marco Wirén appointed Chief Financial Officer, Executive Vice President & member of the Wärtsilä Corporation Board of Management. Mr Wirén (47), M.Sc. (Econ.) has broad-ranging experience of financial management and international business management
Gamesa's 5 MW offshore turbine obtains design certification, a milestone in its offshore wind farm sector progress. Gamesa secures IEC 61400-22 design certification for its G128-5.0 MW offshore wind turbine from independent organisation Det Norske Veritas (DNV)
Scorpio Tankers exercise options with Korea's Hyundai Mipo Dockard for altogether six new tankships. The contracts are for the construction of four MR Product tankers for approximately $33.0 million each and two Handymax ice class-1A (37,000 DWT) product tankers for approximately $31
PC Maritime’s Navmaster ECDIS has been ordered for Bourbon’s latest generation IMR (Inspection, Maintenance and Repair) vessels being built in Zheijiang shipyard, China. Four dual Navmaster ECDIS have been supplied, with a further five Bourbon Evolution 800 to be equipped this
Denmark's TORM agreed to sell five MR product tankers to a company controlled by Oaktree Capital Management as part of an earlier restructuring agreement. The sale is a consequence of the specific option rights, which one bank group exercised in connection with the Restructuring Agreement.
The Board of Directors of leading US carrier in the Pacific, Matson Inc., declares its second quarter cash dividend of $0.15 per share. "I am pleased to announce that our Board of Directors have authorized our second quarter 2013 dividend," said Matt Cox
"The slow start to 2013 is truly disappointing," says Øyvind Eriksen, Executive Chairman of Aker Solutions ASA. Aker Solutions decided to disclose preliminary information on its financial performance in the first three months of 2013 as the results so far considerably lag current
The National Shipping Company of Saudi Arabia (Bahri) receive the 'Bahri Hofuf' from the South Korean shipyard Hyundai Mipo. The new 26,000 dwt general cargo ship is the second vessel delivered from the six vessels that were contracted by the Company with this shipyard in 2011 for a total value
Royal Boskalis Westminster N.V. (Boskalis) say that developments in first quarter 2013 to date are in line with expectations. In their latest trading update Boskalis show: · Revenue higher than in the same period last year
Nam Cheong International secured sale contracts for an Anchor Handling Towing Supply (AHTS) and four Platform Supply Vessels ( PSV's). The total value of the contracts is $110 million. The 12,000 brake horsepower (bhp) AHTS vessel was sold to a new customer in Indonesia