Finance

Asia Dry Bulk Capesize Rates Stay Flat

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability,

ISC Profit Slip in Q2 2014 but Pay Dividend

International Shipholding Corporation (ISC) has announced financial results for the quarter ended June 30, 2014, summarized here: Net Loss he Company reported a net loss of $664,

MOL Aims for Long-term Stability Steadies Past Wobbles

The MOL President Koichi Muto explains his strategies in a letter to shareholders in the company’s Annual Report 2014 and reports an ordinary income of ¥54.9 billion and net income of ¥57.

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

BAE Systems Awarded Two Navy Contract Modifications

The US Department of Defense informs it has awarded separate contracts to BAE Systems in Jacksonville and in Norfolk for ship repairs and modifications as follows: 1.

Exxon Mobil Corporation Declares 3Q Dividend

The Board of Directors of Exxon Mobil Corporation yesterday declared a cash dividend of 69 cents per share on the Common Stock, payable on September 10, 2014 to

Port Manatee's 3 projects to get underway

Port Manatee has been awarded a $1,837,500 security grant, allowing the port to proceed with three significant projects. The award, the second-highest for any

Top Ships Enters 3 New Charters

TOP Ships Inc., an international owner and operator of modern, fuel efficient "ECO" MR tanker vessels focusing on the transportation of petroleum products, announced

Whiting Petroleum Profit Jumps 12%

Whiting Petroleum Corp, which produces oil in North Dakota and Colorado, said on Wednesday its quarterly profit rose 12 percent as production rose across the company's portfolio.

EU Names 8 Russians, 3 Firms Subject to Asset Freeze

The European Commission published the names of eight Russians, including some of President Vladimir Putin's associates, and three companies which will have their

Bradesco, Santander Brasil Agree to New Utility Loans

Banco Bradesco SA and Banco Santander Brasil SA have agreed to extend new loans to power distributors, a government source told Reuters on Wednesday, asking not

Asia a Hard Sell for Russian Firms Seeking Cash

Russian banks and companies shut out of Western funding markets are unlikely to be greeted with open arms and ready wallets in Asia, international bankers and industry experts say.

Egypt Buys 175,000mt of Russian Wheat

Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Wednesday it had bought 175,000 metric tons of Russian wheat for shipment Sept.

Italy Approves Sale of Energy Grid Stake

Italy's state holding company Cassa Depositi e Prestiti (CDP) said on Wednesday its board had approved the sale of a 35 percent stake in its energy grid holding

USACE Gets Bird’s-eye View of Houston Ship Channel Growth

The 53rd U.S. Army Chief of Engineers and Commanding General of the U.S. Army Corps of Engineers, Lt. Gen. Thomas P. Bostick, visited the Port of Houston Authority

Vallourec Repeats 2014 Warning as Q2 Profits Rise

Steel pipes maker Vallourec turned in a second quarter net profit rise of 41.9 percent to 88 million euros ($117.67 million) on Wednesday and repeated its recent

Mobil Nigeria More Than Doubles H1 Pretax Profit

Fuel marketer Mobil Nigeria , a local unit of ExxonMobil said on Wednesday its half year to June pre-tax profit more than doubled to 6.15 billion naira ($38.01 million), compared with 2.

Russian Officials at Odds over Mechel Bailout

The head of Russia's state development bank has ruled out taking part in a rescue of ailing miner Mechel, possibly making a rival government-promoted debt-for-equity

Enel Green Power Mulling Sale of EGP France Business

Italy's biggest renewable company Enel Green Power is mulling the sale of all of its EGP France business because of a lack of critical mass in France, the company said in a slide.

CME to Buy GFI Group for Energy and FX Units

CME Group Inc, the world's largest futures exchange operator, said on Wednesday it would buy derivatives broker GFI Group Inc to expand its reach in the European

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