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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.


Diana Containerships Post Q4 2013 Loss But Pays Dividend

Image courtesy of Diana Containerships

Greece-based container ship owners, Diana Containerships Inc. in financial results for the Fourth Quarter and Year Ended December 31, 2013 report a net loss of $19.8 million for the fourth quarter of 2013, compared to net income of $0.3 million for the respective period of 2012. The Company explains that the loss for the fourth quarter was mainly the result of $9.7 million of impairment charges for the vessel Sardonyx


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


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


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


DHT Announces Shareholders Meeting Results

DHT Ann (Photo courtesy of DHT)

DHT Holdings, Inc. announced the results of its 2014 Annual Meeting of Shareholders. The Annual Meeting was held on Wednesday, June 11, 2014. At the Annual Meeting, the shareholders voted to elect Robert N. Cowen as a Class I Director for a term of three years and Einar Michael Steimler as a Class II Director for a term of two years, to approve the 2014 Incentive Compensation Plan and to ratify the selection of Deloitte AS as DHT's independent registered public accounting firm for the


Rolls-Royce Releases Interim Management Statement

Logo

  As announced on 5 November, Rolls-Royce has accelerated its cost reduction efforts and outlined additional restructuring charges that will reduce the expected underlying profit in 2014 and 2015 by around £60m in both years, subject to employee consultation.  Excluding these charges, our guidance is unchanged for 2014, 2015 and the medium-term outlook, as outlined on 17 October.   The sale of Energy gas turbines and compressor business to Siemens is expected to


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.  


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


Peel Ports Tops 'Track 250' League Table

Peel Ports chief executive Mark Whitworth receiving the Sunday Times Grant Thornton Top Track 250 award from Grant Thornton UK chief executive Sacha Romanovitch

  Leading UK port operator, Peel Ports Group, has been recognised as the UK’s top company in this year’s prestigious Sunday Times Grant Thornton Top Track 250 league table.   Its ambitious development plans and strong financial results were key factors in the


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






 
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