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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

Commerzbank Slashes Ship Finance Portfolio

Pic: Commerzbank

 The German lender Commerzbank is making money in tough market as it sheds another $1.2bn of ship loans.   For the first time ever, Commerzbank's shipping portfolio stands at less than EUR 10 billion, according to the third quarter interim report

Adani Ports profit up 16%

Adani & SEZ

  Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced a 16 per cent increase in its consolidated net profit to Rs. 667 crore for the second quarter on increased income from operations.

ABB Azipod Propulsion for Carnival’s New Ships

Azipod XO (Photo: ABB)

Power and automation technology group ABB announced it has won a repeat order worth $60 million to deliver complete electrical power plants and Azipod XO fuel-saving electric propulsion systems for Carnival Corporation’s two new cruise vessels.

Diana Shipping Acquires Capesize Bulker

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that yesterday it signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to acquire from an unaffiliated third party the m/v Churchill Bulker

CMA CGM's Profits Jump 67% in Q2

Photo: CMA CGM

 French shipping giant CMA CGM, reported a 66.7% jump in net profit to $156m in the second quarter of 2015. The result compared to a $94m net profit in the same period a year earlier.    The world’s third largest container line says that its unit costs fell 10

LNG Terminal in Poland Will be Ready This Year

Polish LNG Terminal. Photo: Polskie LNG

 Świnoujście terminal which is designed to reduce Poland’s dependence on natural gas imported from Russia will be completed by the end of the year, Polskie LNG, a company designed to conduct the investment, informed in a press release.  

Seadrill Cancels West Mira Construction Contract

Offshore drilling company Seadrill Limited said it has exercised its right to cancel the contract for the construction of the West Mira drilling unit following builder Hyundai Heavy Industries Co Ltd.’s inability to complete the project on deadline.  

US Oil Drillers Cut Rigs for Third Week on Weak Crude Prices

U.S. energy firms cut oil rigs for a third week in a row this week, data showed on Friday, a sign the latest crude price weakness was causing drillers to put on hold plans announced several months ago to return to the well pad.   Drillers removed 8 rigs in the week ended Sept

Seanergy Maritime 2Q Revenue Nets $1.8 mln

Dry bulk shipper Seanergy Maritime Holdings Corp.  announced its financial results for the second quarter and six months ended June 30, 2015. For the three months ended June 30, 2015, the company generated net revenues of $1.8 million. Total equity as of June 30, 2015 was $9.4 million.

Diana Charters Panamax Bulker

Courtesy Diana Shipping

  Diana Shipping Inc. today announced that through a separate wholly-owned subsidiary, it entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Melite. The gross charter rate is $7,250 per day minus a 4

Antwerp Port Sees Record Growth

Image Antwerp Port

  The port of Antwerp handled 156,515,552 tonnes of freight in the first nine months of this year, up 5.5% on the same period last year. The steady growth in the volume of container freight (up 8.0% in TEU, 5.4% in tonnage) and of liquid bulk (up 7

Golar Cameroon FLNG Project Update

Golar LNG Limited announced its Cameroon FLNG project has received approval and signature of the binding Tolling Term Sheet thereby confirming the commercial terms for the FLNG vessel Golar Hilli.   Cameroon's state owned oil and gas company Société Nationale des Hydrocarbures

Shanghai Port Logs Quarterly Profit Fall

Shanghai International Port Group Co Ltd, the operator of the world's busiest container port, reported its first fall in quarterly net profit in over a year, providing evidence of China's economic slowdown. China, the world's second largest economy, grew 6

Creditors to Pump $3.7B into Ailing DSME

Image: DSME

 Creditors of South Korea's Daewoo Shipbuilding and Marine Engineering Co. will pour 4.2 trillion won about (US$3.68 billion) into the ailing shipyard to help it get back on track, the main creditor bank said, according to South Korea's (Yonhap) News Agency.  

Dorian LPG Takes Delivery of Five Newbuilds

Photo: Dorian LPG

 Dorian LPG Ltd took delivery of five vessels under our ECO-design VLGC newbuilding program, the Continental, the Constitution, the Commodore, the Cresques and the Constellation.   John Hadjipateras, Chairman, President and Chief Executive Officer, commented

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