Year's End

Costamare Q4 & Year End Report

Costamare Inc. (NYSE: CMRE), an international owner of containerships, reported unaudited financial results for the fourth quarter and for the year ended December 31, 2010.    Highlights Voyage revenues of $85.7 million and $353.2 million for the three months and the year ended December 31, 2010, respectively. Adjusted EBITDA of $56.2 million and $223.6 million for the three months and the year ended December 31, 2010, respectively. Net income of $11.8 million or $0.21 per share and $81.2 million or $1.65 per share for the three months and the year ended December 31, 2010, respectively. Adjusted Net Income of $18.0 million or $0.33 per share and $73.8 million or $1.50 per share for the three months and the year ended December 31, 2010, respectively. Finalized the financing arrangements for the three newbuilding contracts which were identified in the Initial Public Offering prospectus in November 2010. The containerships, each with a capacity of approximately 9,000 TEU, will be constructed by Shanghai Jiangnan Changxing Heavy Industry Co., Ltd. for a contract price of $95.1 million per vessel and are scheduled to be delivered between November 2013 and January 2014. We have entered into time charter agreements with MSC for the employment of each vessel immediately upon delivery, for a duration of ten years at a daily charter rate of $43,000.

Chevron Clarifies Deepwater GOM Production

Chevron Corp. clarified the production rate for Genesis, a deepwater project in the Gulf of Mexico, which was reported in the corporation's quarterly earnings release. The 1999 year-end gross oil-equivalent production from Genesis, operated and 57-percent owned by Chevron, was 47,000 bpd. The 63,000 bpd reported for Genesis was the peak production rate for a period during the fourth quarter, not the year-end level. The gross oil-equivalent production from the 40 percent-owned Gemini project

Stolt Comex Reports Results

Subsea contractor Stolt Comex Seaway S.A. reported results for the fourth quarter and the year ended Nov. 30, 1999. Net loss for the latest quarter was $1.5 million, on net operating revenue of $149.4 million, compared with net income of $9.6 million, on net operating revenue of $223.9 million for the same period last year. Net income for the year ended Nov. 30, 1999 was $16.2 million, on net operating revenue of $640.7 million, compared with a net income of $57

Lighthouse Fast Ferry Reports Record Results

Lighthouse Fast Ferry, Inc. reported record sales results for the fourth quarter and twelve months ended December 31, 2001. For the year-ended December 31, 2001, total revenue increased 10% to a record $4.4 million from $4.1 million for the prior-year period in 2000. Passenger ticket sales jumped nearly 16% to $3.9 million from $3.4 million in the prior-year period, reflecting increased rider-ship at the company's Highlands, New Jersey site, where total annual rider-ship rose 6% to 297

MC Shipping Announces Year End Results

MC Shipping Inc. said net income for the year ended December 31, 2003 was a record $3,091,155 or $0.37 per share, compared to a net income of $2,241,906 or $0.27 per share in 2002. The Company's earnings before interest, taxes, depreciation and amortization (EBITDA) were approximately $20.1 million and the ratio of EBITDA to interest expense was approximately 4.1 for the year ended December 31, 2003. In 2002, EBITDA was approximately $20

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

Aker Maritime To Eliminate 350 Jobs, 250 More By Year-End

Norwegian offshore supply firm Aker Maritime officials have announced the elimination of 350 jobs out of 1,070 at its Aker Verdal yard and said that the company would probably lay off 250 more workers from the yard by the end of 1999. "The decision is in line with plans announced earlier, and reflects a lower level of activity and depressed market prospects for the yard," officials said.

General Maritime Corp. Announces 4Q Results

General Maritime Corporation announced that it will hold a conference call to discuss the Company's results for the fourth quarter and full year of 2006 on Thursday, February 22, 2006. The Company will issue financial results for the fourth quarter and full year ended December 31, 2006 on Wednesday, February 21, 2007 after the close of market trading.

GlobalSantaFe to Hold 4Q Conference Call and Webcast

GlobalSantaFe Corporation has scheduled a conference call to discuss its fourth-quarter and year-end financial results at 11:00 a.m. CST (12:00 p.m. EST) Wednesday, January 28, 2004. The results are scheduled to be released publicly prior to market opening on the New York Stock Exchange that same day.

Houma Navigation Canal Dredging to Start

According to a September 25 report from The Daily Comet, dredging will begin soon on a seven-mile stretch of the Houma Navigation Canal where silt has caused problems for area businesses that use the waterway to move large ships and offshore structures. The Corps of Engineers will spend up to $4.5m to dredge the stretch of canal through Terrebonne Parish, with the goal to start in October and finish by the year’s end.