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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.


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.


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


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


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


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.


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


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


S.Korea: Hanjin Cash, Parent Support Should Cover Offloading Fees

A Hanjin Boxship underway (File image: Hanjin)

Cash from top shareholder, executives should cover offload costs. South Korea's government said cash held by Hanjin Shipping Co Ltd and funds pledged by its parent group should meet the costs of unloading some $14 billion in cargo stranded on vessels operated by the troubled container line.


Hanjin Says US-bound Ship is Being Held 'Hostage'

A lawyer for Hanjin Shipping Co Ltd , the failed South Korean container carrier, said on Thursday a U.S.-bound vessel was held "hostage" by disputes over payments, adding to the struggles in getting $14 billion of cargo off its ships stranded at sea.  


Wilhelmsen and Wallenius to Merge

Courtesy Wilhelmsen

Wilhelmsen and Wallenius have signed a letter of intent to establish a new ownership structure for their jointly owned investments. The new entity, Wallenius Wilhelmsen Logistics ASA, will form a more efficient management structure and enable further synergies between the joint ventures.


ABS Launches Guide for Container Shippers

Image: ABS

Class Society builds on long history of developing tools to drive optimization, compliance and safety in the containership sector. ABS released two new tools specifically focused on assisting the containership sector with pressing operational challenges


Japanese Shippers Trim Fleets

Photo: NYK Lines

 The three big Japanese marine transport firms -  Nippon Yusen Kabushiki Kaisha (NYK Lines), Mitsui O.S.K. Lines and Kawasaki Kisen - are decreasing the number of containerships and bulk carriers in their fleets by 10%, reports Nikkei.  


Sovcomflot Profits slip

Projects - The company services large-scale energy projects in Russia and abroad, including Sakhalin-1, Sakhalin-2, Prirazlomnoye, Varandey, Tangguh and Peregrino.

Reviewing the company’s financial and operating results for the first half year ended 30 June 2016, on 23 August 2016, the Executive Board of PAO Sovcomflot (“SCF Group”) noted that despite a tanker market downturn, the company was able to demonstrate strong performance and


New Container Equipment Prices to Fall to Record Lows

Photo: Hapag-Lloyd AG

 Cheaper production and material costs as well as weaker demand has driven the price of new container equipment down to record lows and is forecast to fall  further during 2016, according to the latest edition of the Container Census report published by global shipping consultancy Drewry


Is DSME Facing Delisting?

Photo: DSME Co.,Ltd

 South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME),  faced with risks of being delisted from the stock market due to capital erosion, is seeking measures for survival, says a report in Korea Times.   DSME has fallen into the state of complete capital impairment


SC Ports Posts Earnings of $39 Mln

Photo South Carolina Ports Authority

Today South Carolina Ports Authority reported 2016 fiscal year-end operating earnings of $39 million, revenues of $211 million and operating expenses of $172 million.   "The Port closed the FY2016 books with solid financials, reflecting our commitment to achieving the necessary


Otto Marine Launches Second Arbitration Proceedings

Photo: Otto Marine

 Singapore-based offshore marine group Otto Marine, which is in the midst of a takeover offer by its chairman, has taken a second legal action against payment default, reports Strait Times.    Otto Marine said it has commenced arbitration proceedings against Vettal Mega Services


MISC Reports Higher Profit Despite Revenue Loss

Yee Yang Chien, PRESIDENT & CEO, MISC BHD

* Group revenue for the quarter and the 6 months period ended 30 June 2016, were lower than the corresponding quarter and 6 months period ended 30 June 2015.   * Group profit before tax for the quarter and the 6 months period ended 30 June 2016


Danaos Reports Strong 1H

Danaos H.O. Photo Danaos

Danaos Corporation today reported unaudited results for the period ended June 30, 2016. Highlights for the Second Quarter and Half Year Ended June 30, 2016:   * Adjusted net income1 of $47.7 million, or $0.43 per share, for the three months ended June 30, 2016 compared to $38


Westports Q2 Profit Up

Photo: Westports Malaysia

 Malaysian port operator Westports Holdings saw second quarter net profit jump 31% to MYR159.9m ($39.6m) from MYR122.1m in the previous corresponding period due to an increase in container volumes.   Correspondingly, revenue also climbed to RM522.6mil from RM405.3mil last year.


India Govt, Cochin Shipyard Pact on FY17 Growth Targets

Image: Cochin Shipyard Ltd

 Cochin Shipyard Limited (CSL) has entered into a Memorandum of Understanding (MoU)  with the government of India for the ongoing fiscal under which targets agreed are in line with aggressive growth plans of the public sector firm.  


Great Lakes Dredging Awards Announced

Courtesy Great Lakes Dredge & Dock Corp

Great Lakes Dredge & Dock Corporation announced that it was recently awarded four contracts with an approximate value of $93 million. Great Lakes received two awards for coastal protection work required along the East Coast as a result of the extensive damage caused by Super Storm Sandy in






 
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