Overseas Shipbuilding Releases 3Q Earnings

Wednesday, October 31, 2007
Overseas Shipbuilding Group Inc. reported third-quarter earnings of $26.6m, or 83 cents a share, down from a year-ago profit of $90.8m, or $2.29 a share. The latest results include a gain of $1.5m, or 5 cents a share, on vessel and securities sales. Last year's performance reflects a similar gain of $15.8m, or 39 cents a share. Revenue rose in the latest three months to $277.2m from $265.9m a year earlier. The mean estimate of analysts polled by Thomson Financial was for a profit of 74 cents a share in the September period. The company said total operating expenses swelled to $243.3m in the September quarter from $176.9m. [Source: Thomson Financial]

Finance

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

Hanjin Shipping to Submit Self-Rescue Plan

South Korea’s Hanjin Shipping is planning on submitting a self-rescue plan to creditors this week to stave off bankruptcy by Aug. 25, reports Korea Herald quoting local media.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0885 sec (11 req/sec)