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Year End

Conrad Industries Reports Final 1999 Results

Conrad Industries reported net income of $1.5 million for the year ended December 31, 1999, compared to net income of $254,000 for the year ended 1998. Revenues for the year ended December 31, 1999 were $32.6 million compared to $46.3 million for the year ended December 31, 1998. The results for 1998 were affected by a non-cash executive compensation charge of $4.7 million.


DryShips Reports 4Q Results

DryShips Inc announced its unaudited financial and operating results for the fourth quarter and twelve months ended December 31, 2007. Financial Highlights include: • For the fourth quarter of 2007 the Company reported Net Income of $195.2 million or $5.37 per share. Included in the fourth quarter results is a capital gain on the sale of 1 vessel of $31.5 million or $0.87 per share. Excluding this gain, Net Income would amount to $163.7 million or $4.50 per share.


Conrad Completes New Drydock, Outlook Good In 2001

Conrad Industries, founded in 1948, specializes in the construction, conversion and repair of marine vessels for commercial and government customers and the fabrication of modular components of offshore drilling rigs and floating production, storage and off-loading vessels. The company currently operates three shipyards located along the Gulf Coast in Morgan City and Amelia, Louisiana and Orange, Texas. William H. Hidalgo, president and CEO of Conrad said


Greece's Costamare Deliver Positive 2012 Financial Results

In a challenging market, Costamere has minimized its re-chartering risk, identifies possibilites to expand in container ship market. Costamare Inc. is a leading international owner of containerships. Through its subsidiaries Costamare Inc. owns a fleet of 58 vessels aggregating approximately 330,000 TEU. Financial Highlights Voyage revenues of $95.2 million and $386.2 million for the three months and year ended December 31, 2012, respectively.


Intelsat Reports 2013 Results

intelsat-logo.png

Fourth quarter revenue of $642.8 million; fiscal year 2013 revenue of $2,603.6 million Fourth quarter net income attributable to Intelsat S.A. of $72.6 million; 2013 fiscal year net loss of $255.7 million Debt prepayment of $100 million in the fourth quarter of 2013; total 2013 debt decline of $617 million $10.1 billion contracted backlog provides visibility for future revenue and cash flow Intelsat S.A. has reported total revenue of $642


Japan LNG Imports Hit Record Levels

File photo

Japan imported record volumes of liquefied natural gas (LNG) and thermal coal in the fiscal year ended in March, as the country's  shutdowns of nuclear stations since the Fukushima disaster in 2011 forced utilities to burn more fossil fuels to generate power. Japan, the world's biggest LNG buyer, imported 87.73 million tonnes of the fuel in the year to March 2014, up 1 percent from the previous high a year ago, helping rack up a record trade deficit of 13.75 trillion yen ($134


Royal Olympic Cruises Expects Cancellations to Affect Year End Results

Royal Olympic Cruise Lines Inc. reported that significant booking cancellations aboard its cruise vessels for the remainder of the year will adversely affect its final results for 2001. The cancellations follow the tragic attacks on New York and Washington DC on September 11, 2001. CEO of Royal Olympic Cruise Lines, Yiannos Pantazis, stated, "A large number of the passengers travelling with us in September and October are from the United States and unfortunately, since September 11


Mitsui O.S.K. Raises Profit Forecast

Mitsui O.S.K. Lines Ltd., Japan's second-largest shipping company by sales, raised its full-year profit forecast as higher demand for transporting iron ore and other bulk commodities drove up prices for shipping goods. Mitsui O.S.K. expects net income of $1.8 b in the year ending March 31, compared with a previous forecast of 185 billion yen. The Tokyo-based shipping line's profit in the three months ended Dec. 31 rose to 58.9 billion yen from 39


Golar 2010 AGM Results

Golar LNG Limited advised that the 2010 Annual General Meeting of the company was held on September 24, 2010 at 10:30 a.m. at the Elbow Beach Hotel, 60 South Shore Road, Paget PG04, Bermuda.  The following resolutions were passed:   1) To re-elect John Fredriksen as a Director of the company. 2) To re-elect Kate Blankenship as a Director of the company. 3) To re-elect Hans Petter Aas as a Director of the company. 4) To re-elect Kathrine Fredriksen as a Director of the company.


Stolt-Nielsen Changes Accounting for Two Acquisitions

Stolt-Nielsen Limited announced that Finanstilsynet (The Financial Supervisory Authority of Norway) has completed a review of certain aspects of the company's consolidated financial statements for 2012. The company agreed to reverse $12.3 million of the non-cash gains on bargain purchase relating to the Acuidoro and Moerdijk acquisitions completed during 2012. The non-cash gain on bargain purchase of $4.8 million relating to the Dagenham acquisition has not been reversed.


NYK Line Posts Loss on Dry Bulk Fleet Revaluation

Image: NYK Line India

 Japan's Nippon Yusen Kaisha (NYK) has posted a $277.5mln extraordinary loss in the third quarter of year ended 31 March 2016 as it reduced the book value of its fleet inline with current market prices and expectations. The extraordinary loss came after it re-assessed the recoverable value of


Maybulk Issues Profit Warning

Photo: Malaysian Bulk Carriers

 Malaysian Bulk Carriers Bhd (Maybulk) is forecasting significant losses for the fourth quarter of 2015 and the financial year ended December 31, 2015 amid depressed market condition.   Maybulk, which operates the country’s largest fleet of dry bulk vessels used for international


Cosco Bags Contract for Trailing Suction Hopper Dredger

Image: Cosco Shipyard

 COSCO (Guangdong) Shipyard Co., Ltd, has secured a  contract from a European buyer to build one 15, 000m 3 Trailing Suction Hopper Dredger.    The Singapore-listed shipbuilder COSCO Guangdong and the buyer have agreed  to keep the contract price  confidential


Maersk Profit Down 82%

Pic by Maersk Grop

Danish shipping and energy conglomerate Maersk Group delivered a profit of USD 925m for the full year ending December 31st 2015, against USD 5.2bn reported in 2014, a drop of 82%. Maersk’s underlying profit for full year was USD 3.1bn down from previous year's being USD 4.5bn.


TRIYARDS Reports Strong 4QFY15

Courtesy TRIYARDS Holdings Limited

  TRIYARDS Holdings Limited (TRIYARDS or the Group) reported a strong finish for the financial year ended 31 August 2015 (FY15) with a 59% year-on-year jump in net attributable profit (PATMI) to US$8.4 million in the fourth quarter, driven mainly by liftboat construction.


Asia Dry Bulk-Capesize Rates to Slide with Voume Drop

File Image: a Valemax bulk carrier alongside the pier.

Capesize rates nearing the bottom - Shanghai broker; Global iron ore demand to hit 3 bln tonnes by 2030 (Rio Tinto) Freight rates for capesize bulk carriers could hold around current levels or nudge slightly lower next week as cargo volumes fail to match the number of ships available for charter


SCI 1H Profit Jumps

Photo SCI

  The Shipping Corporation of India (SCI) declared its unaudited financial results for the quarter ended 30th September 2015 posting a net profit of Rs. 161.21 crores as against a net profit of Rs. 18.59 crores during the quarter ended 30th September 2014 and a net profit of Rs. 163


Triyards Extends Product Range to Escort Tugs

Courtesy Triyards

  TRIYARDS Holdings Limited has extended its product range to escort tugs for new client Greenbay Marine Pte Ltd, a Singapore-based international specialist marine craft group, demonstrating the Group’s established versatile engineering capabilities which have driven its continued


North Group Increases Projected Free Reserve

Directors of the North P&I Club and Sunderland Marine Insurance Company (North Group) have revised their projection for the group’s year-end free reserve up to $380 million, an increase of 12 percent on last year and $20 million more than estimated at the half-year point.


TGS Revenue Plunges

  Seismic player TGS saw its revenue severely dented by weak market conditions in the fourth quarter and expects its multi-client survey investments to be more than halved this year on lower activity. Based on a preliminary review of sales and investments


New Orleans Port Tops 1M Passengers Again

Cruise ships at the Port of New Orleans Julia and Erato Street cruise terminals, located steps from the historic French Quarter Photo Port NOLA

  Port of New Orleans cruise terminals handled more than 1-million passengers in 2015, totaling 1,023,700, up 1 percent compared to 2014. The total marks the fifth consecutive record year and with new and larger ships on tap for 2016, Port officials expect another robust cruise season.


PSA Container Throughput Falls 2%

Tan Chong Meng GROUP CEO PSA INTERNATIONAL PTE LTD

  PSA International Pte Ltd (PSA) handled 64.10 million Twenty-foot Equivalent Units (TEUs) of containers at its port projects around the world for the year ending 31 December 2015. The Group’s volume decreased by 2.0% over 2014, with flagship PSA Singapore Terminals contributing 30


U.S. Drillers Cut Rigs to Lowest Number in Almost 6 Years

U.S. energy firms this week continued to cut the number of rigs drilling for oil to the lowest in nearly six years, data showed on Friday, suggesting drillers were preserving cash as they evaluate spending plans as crude prices hover near 12-year lows.


Antwerp Port Sees Record Volumes in 2015

Courtesy Antwerp Port

In 2015 for the first time in its history the port of Antwerp passed the 200 million metric ton mark for the volume of freight handled, by a wide margin. On December 31, the figure stood at 208,423,920 metric tons of freight handled. That’s 4


Jinhui Issues Profit Warning As Dry Bulk Plummets

Photo: Jinhui Shipping and Transportation Limited

 Jinhui Shipping and Transportation Limited expects to record a wider net loss for the fourth quarter and year ended 31 December 2015, compared to a year earlier on account of record-low freight rates in the dry bulk shipping market.  






 
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