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Second Quarter

Sino-Global Results for Q2 2009

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


Earnings Down for Most Oil Companies

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 2Q Earnings Fall

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 Announces Unaudited 2Q 2007 Results

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


General Dynamics Reports Q2 2013 Results

General Dynamics (GD) today reported second-quarter 2013 net earnings of $640 million, or $1.81 per share on a diluted basis, compared to 2012 second-quarter net earnings of $634 million, or $1.77 per diluted share. Second-quarter 2013 revenues were $7.9 billion. Company-wide operating margins for the second quarter of 2013 were 12.1%, consistent with second-quarter 2012 margins. Each of the company’s four segments delivered margin expansion over the first quarter of 2013.


Cat Financial Announces Second-Quarter 2014 Results

CAT Brand

  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. The increase in revenues was primarily due to a $36 million favorable impact from higher average earning assets. Profit before income taxes was $206 million for the second quarter of 2014


Knightsbridge Tankers Announces 2Q Results

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


Arlington Tankers Q2 Profit Increases 35%

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 Q2 2009 Results

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.


General Dynamics Reports 2Q 2014 Earnings

Phebe N Novakovic , Chairman and CEO

  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. Second-quarter 2014 revenues were $7.5 billion. There is a charge in the quarter of $105 million in discontinued operations for the sale of a business within Combat Systems


Transocean Delays Drillships

Image: Transocean Ltd

 Transocean Ltd, the world’s largest offshore driller, has delayed delivery of two new ultra-deepwater drillships, the company announced.   The company amended its drillship construction contracts ($540 million each) with Jurong Shipyard, a subsidiary of Sembcorp Marine


Otto Marine Secures $131 mln in New Contracts

Otto Marine Limited, an offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, has announced that in the second quarter of financial year 2015 (Q2FY2015) till date


Teekay Sells FPSO, Announces Dividend Boost

Photo: Teekay

Teekay Corporation to complete sale of the Knarr FPSO and announces dividend increase of 75 percent   Teekay Corporation announced today that its board of directors has declared a cash dividend on its common stock of $0.55 per share for the quarter ended June 30, 2015


Stolt-Nielsen's Results Show Bright Future

Logo

  Stolt-Nielsen Limited today reported unaudited results for the second quarter ended May 31, 2015. Net profit attributable to shareholders in the second quarter was $42.5 million, with revenue of $500.7 million, compared with a net profit of $38.7 million, with revenue of $487


Diana Shipping fixes Post-Panamax

mv  ALCMENE

  Diana Shipping Inc. announced today that through a separate wholly owned subsidiary, it entered into a time charter contract with ADM International Sarl, Rolle, Switzerland, for one of its Post-Panamax dry bulk vessels, the m/v Alcmene


Diana JV with WSM

Aliki Vessel. Photo by Diana Shipping Inc

 Dry bulk shipping company Diana Shipping and Wilhelmsen Ship Management (WSM) have joined forces in a new 50/50 joint venture named Diana Wilhelmsen Management Limited (DWM).   DWM, to be based in Limassol, Cyprus, and will commence operations by the end of June


ASL Profit Nosedives

Photo by ASL Marine

 Singapore shipbuilding group ASL Marine has posted a sharp drop in net profit for its third quarter as revenues from its shipbuilding, shiprepair and chartering segments fell across the board.   Net profit for the three months to March 31 plummeted 65


Golden Ocean: Worst Bulk Market Since 1980s

Dry bulk shipping firm Golden Ocean reported first-quarter earnings below forecasts on Thursday and said its market had gone from "bad to worse" with market conditions not seen in three decades. Golden Ocean, controlled by shipping tycoon John Fredriksen


Frontline Beats Q1 Forecasts, Inks Ship Finance Deal

Crude oil tanker firm Frontline posted first-quarter operating profit above expectations on Friday and said it had renegotiated its relationship with chartering firm Ship Finance to strengthen its balance sheet. Once the world's biggest crude tanker firm


Matson Completes Horizon Lines Acquisition

Photo: Horizon Lines

Matson, Inc. has completed the acquisition of Horizon Lines, Inc. which includes Horizon's Alaska operations and the assumption of all non-Hawaii business liabilities. Separately and immediately preceding the completion of the transaction, Horizon completed the sale of its Hawaii trade lane assets


SFL Sells its Holding in Horizon Lines

Photo: Horizon Lines

Ship Finance International Limited (SFL) has sold its holding of notes and warrants in Horizon Lines, Inc. for net cash proceeds of approximately $72 million.   In April 2012, Ship Finance received $40 million of Horizon Lines second-lien notes and 9


China Shipping Charters Diana Panamax

Calipso. Photo by Diana Shipping

 Diana Shipping has entered into a time charter contract with Hong Kong - based China Shipping Bulk Carrier, for one of its Panamax dry bulk vessels, the m/v Calipso.    The "Calipso" is a 73,691 dwt Panamax dry bulk vessel built in 2005


Diana Takes a Hit on Charter Extension

mv Leto Photo Marcelo Lopes

  Diana Shipping Inc. specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Leto


Russia to Cut Pipeline Oil Exports, Oil Transit

Photo: Novorossiisk Commercial Sea Port

Russia plans to cut oil exports by pipeline and oil transit by 0.6 percent to 52.5 million tonnes in the third quarter, quarter-on-quarter, trade sources citing a loading schedule said on Tuesday. The sources, who spoke on condition of anonymity


EMGS Implements Further Cost Reductions

Resistivity attributes and seismic integration from discoveries

  Electromagnetic Geoservices ASA (EMGS) announce that the Company implements further cost reductions reflecting the challenging market conditions in the oil service industry.   As communicated in the first quarter report, the Company initiated cost reduction measures in the beginning






 
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