Carnival 2Q Reflects Fuel Costs

Friday, June 16, 2006
According to reports, higher fuel costs and the Caribbean cruise market combined to reduce second-quarter profit 2 percent at Carnival Corp. Net income for the quarter ended May 31 was $380 million, or 46 cents per share, compared with last year's second-quarter profit of $388 million, or 47 cents per share. Wall Street analysts surveyed by Thomson Financial had forecast profit of 44 cents a share, on average.

While revenue rose 6 percent to $2.66 billion compared with the same period last year, executives at the Miami-based company said fuel costs were about 43 percent higher. Those high fuel prices are expected to continue through the rest of the year. Source: AP


Contracts

ACE Winches Bags Order from Vard

Deck machinery specialist ACE Winches said it has been awarded a spooling contract with Vard Group AS for Norway’s largest construction vessel.   The scope of work includes the spooling of two 3,

Fugro, US Army Corps of Engineers Ink Mapping Deal

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Nakilat Upgrades VSAT Service for LNG/LPG Fleet

Nakilat, the shipping arm of Qatar’s liquefied natural gas sector, has entered into a contract with Global Eagle Entertainment Inc.’s Emerging Markets Communications

Finance

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

Monjasa Bags Credit Facility from Société Générale

Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from

 
 
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