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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.


Six SAR Boats from Damen Shipyards Antalya

6  Damen SAR Boat Photo Damen

Damen has signed a contract with the International Organisation for Migration (IOM) in Ankara, Turkey for the supply of six, state-of- the-art Search and Rescue (SAR) vessels for delivery in 2017. The boats are being financed by the European Union and will be operated by the Turkish Coastguard


Boom at Port Everglades Continues

Port Everglades Exceeds One Million TEU Mark for Third Consecutive Year Photo Everglades  Port

Broward County's Port Everglades exceeded one-million TEUs (20-foot equivalent units, the industry's standard container measurement), for the third consecutive year, reporting a total of almost 1.04 million TEUs and maintaining its status as Florida's number one container port


India Aims to Boost Low-grade Coal Sales While Global Prices High

India is trying to boost sales of its low-quality coal by offering more of the fuel at home and initiating steps to lower freight costs, while global prices are high, with the government hoping the moves will help cut imports.   State-controlled Coal India


Frontline Sees Limited Effect on Demand From 'Balanced' OPEC Cut

* Crude oil tanker firm Frontline says a potential "balanced cut and cap from OPEC", as suggested by some analysts, is not expected to have a large impact on the tanker market * Says significant volume cuts by OPEC, although unlikely, would be negative for tanker freight demand


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.


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.  


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.


Damen to Launch Composite Water Bus

(Photo: Damen)

Damen said it is set to launch its first composite Water Bus as the prototype undergoes sea trials in the next few weeks.   According to the shipbuilder, the new vessel offers reduced fuel consumption, less maintenance, no corrosion or fatigue problems and is very robust


Kawasaki May Quit Shipbuilding

Photo: Kawasaki Heavy Industries

Japan's Kawasaki Heavy Industries said it would consider a drastic revision of its shipbuilding, and has even indicated that it may pull out of its shipbuilding business due to its worsening profitability, reports Reuters. Kawasaki Shipbuilding revised its profit outlook lower for the business


Mitsubishi Plans to Shrink Ship Building Operations

Mitsubishi Air Lubrication System (MALS) Photo Mitsubishi Shipbuilding & Ocean Development

Japan's Mitsubishi Heavy Industries is planning to stop taking new orders for large passenger ships, downsizing its shipbuilding operations due to a slump in orders, the Nikkei newspaper reported on Sunday. The plans by Japan's fourth-largest shipbuilder come as new shipbuilding orders have


Hanjin Shipping to Lay Off U.S. Staff

Photo: Hanjin Shipping

 South Korean liner carrier Hanjin Shipping has announced job cuts in the U.S., but says the move is not connected to its failure and filing for bankruptcy protection, says a report in Bloomberg.   Hanjin will lay off about 180 members of its 500 person workforce in the United States


Adani Ports PAT Grows by 61%

Karan Adani Karan Adani CEO, APSEZ   Photo Adani

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and the logistics arm of Adani Group, today announced another stellar operational and financial performance for the quarter and half year ended September 30, 2016.  


Emas Offshore Sinks Deeper into Red

EMAS Offshore Limited announced today a net loss of US$265.3 million for the full year ended 31 August 2016 (“FY2016”). Net loss for the three months ended 31 August 2016 (“4QFY2016”) stood at US$98.5 million.  


Europe Rushes to Meet US Fuel Demand, Spiking Freight Costs

File photo: Aurelie Moulin

European oil traders rushed on Tuesday to book vessels to carry gasoline to consumers on the U.S. East Coast left stranded without their main domestic supply source, more than quadrupling shipping costs, traders and ship brokers told Reuters. 


Black Sea Wheat Exports Could Rise 12% in 16/17

Leading wheat producers in the Black Sea region - Russia, Ukraine and Kazakhstan - are likely to increase their exports by around 12 percent in 2016/17 due to a bigger harvest than last year, analyst UkrAgroConsult said on Tuesday.   It forecast exports from the three countries would total






 
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