Marine link
 

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.


BHP Will Beef Up Hedland Port, Acquire Tugs

BHP Billiton said on Tuesday it will spend $240 million upgrading its marine iron ore facilities in Western Australia. The funds will be used to purchase six tug boats and build a new tug harbor in the Port Hedland Port, with construction due to be completed in the September 2016 quarter.


Redwood City Reports Strong Cargo Volumes

Photo: Port of Redwood City

Port of Redwood City reports fiscal year cargo movement fourth highest in modern history   After three years of annual double digit growth in Port of Redwood City tonnage from 2012-2014, the fiscal year 2015 Port tonnage declined slightly by 3.8 percent.  


Georgia Ports Score Record Cargo Numbers

(Photo: Georgia Ports Authority / Stephen B. Morton)

The Georgia Ports Authority moved a record 3.66 million twenty-foot equivalent container units in Fiscal Year 2015, an increase of more than half a million TEUs.   "The deepwater ports of Savannah and Brunswick are cornerstones of Georgia's success


Nigeria LNG to Receive Four Ships in 2015

Nigeria Liquefied Natural Gas Company (NLNG) expects to take delivery of four LNG carrier ships before year-end and another two next year, its chief executive said, positioning the state-backed gas exporter to expand its share of the growing market.


China Shares Details on S.China Sea Facilities

The Chinese government on Wednesday rolled out more details of the building work it is undertaking in the disputed South China Sea, listing lighthouses, communications stations and other facilities for civilian and emergency use.   China stepped up its creation of artificial islands last


Moody's Changes Hapag-Lloyd Rating to Stable

Photo: Hapag-Lloyd

Moody's Investors Service has changed to stable from negative the outlook on the B2 corporate family rating (CFR), the B2-PD probability of default rating (PDR) and the Caa1  senior unsecured rating of Hapag-Lloyd AG. Concurrently, Moody's has  affirmed the ratings assigned to the


American Club: Solid Progress despite Challenging Market

Joe Hughes (Photo: American Club)

International P&I insurer continues positive trend into 2015   The American Club reported solid progress during 2014 at the annual meeting of its members held in New York today. Despite a challenging economic climate, the club’s business had developed favorably


Globus Maritime Reports Q1 Loss

Image: Globus Maritime Limited

 Greece-based dry bulk shiping company, Globus Maritime has been pushed back into the black by miserable dry bulk rates, but the company has said that it is awaiting market improvements within 2015.    George Karageorgiou, President


COSCO Receives Fund for Fleet Renewal

Image: China COSCO Holdings Company Limited

 China COSCO Holdings Co Ltd says it has received ship scrapping subsidies for about 3.96 billion yuan ($638.71 million).    It came through China Ocean Shipping, the controlling shareholder of the company, for the decommissioning and upgrading of vessels.  


Uni Asia Forms New Subsidiary and Buy a New Vessel

Pic: Uni-Asia Holdings Limited

 Uni-Asia Holdings Limited has acquired a new wholly owned Panama-incorporated company known as Fortuna Containership S.A. as a ship owning subsidiary for the purpose of acquiring a 3,500 TEU second hand containership.   Fortuna Containership was incorporated in Panama on 20 May 2015


Viking O&M Secures Rig Contract from a Chinese Firm

Picture of the 1,500-bhp train-type land drilling rig. Credit: Viking Offshore and Marine Limited

 Viking Offshore & Marine has secured a 48-month charter for a second land drilling rig system for US$31 million ($41.8 million).   Viking’s subsidiary Viking LR2 will charter the 1,500-bhp train-type land rig and related drilling equipment system to a Chinese land rig


Container Ship Industry ‘Lucky to Break Even' in 2015,

Image: Maersk Line

 Global shipping consultancy Drewry predicts the container ship industry will be "lucky to break even this year" as shipping rates slump due to catastrophic overcapacity.   A toxic mixture of overcapacity, weak demand and aggressive commercial pricing is threatening liner


Pemex Boosts Gasoline Imports in Wake of Shortages

Mexican state-owned oil company Pemex is ramping up gasoline imports and boosting domestic production at two major refineries after fuel shortages led to long lines at gas stations in several states this week.   Pemex announced an "extraordinary" gasoline import surge of 75


India to Float Tenders for Six New Submarines Soon

Image: Indian Navy

 The Indian Navy will soon invite tenders for building six conventional submarines after a high-level committee of the Defence Ministry submitted its report identifying shipyards capable of executing the about $10.1 billion project.   


BHP to Spend $240 mln on Iron Ore Tug-Boat

Port Hedland. Photo: BHP Billiton

 BHP Billiton plans to construct a new eight pen tug harbour at Hunt Point in Port Hedland, as well as purchase six additional tugs, for $US240 million ($A326 million).   The investment will also include an upgrade of workshop facilities






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright