Columbia Shipmanagement Ltd News

Satlink Satellite Communications Ltd, a satellite communication and technical services provider, announced that it has become an Inmarsat Partner for Fleet Xpress and FleetBroadband. As part of the partnership Satlink’s solutions will be integrated with Inmarsat’s Fleet Xpress service to deliver value added services including its in-house developed Satbox, and Tracklite service that enhances connectivity to their existing global customer network involving merchant shipping, offshore, fishing and leisure markets. Socrates Theodossiou, joint Managing Director of The Tototheo Group said, “On-board bandwidth requirements keep growing, driving the satellite communications industry to integrate and develop in-house tailor made solutions for end-users.

Two shipping firms based in Germany and Cyprus were sentenced today in federal court in Newark, N.J., to pay a $10.4 million penalty for felony obstruction of justice charges and violating the Act to Prevent Pollution from Ships related to the deliberate concealment of vessel pollution from four ships that visited ports in New Jersey, Delaware and Northern California, the U.S. Attorney’s Offices in New Jersey and Delaware, the U.S. Department of Justice Environment and Natural Resources Division and the U.S. Coast Guard announced. Columbia Shipmanagement (Deutschland) GmbH (CSM-D), a German corporation, and Columbia Shipmanagement Ltd.

Athens, Greece--May 11, 2011--Tsakos Energy Navigation Limited (TEN) (NYSE: TNP) (the “Company”) today reported results (unaudited) for the first quarter ended March 31, 2011. TEN attained net income of $9.3 million (including a $5.8 million gain on the sale of a vessel) for the first quarter of 2011 compared to $19.5 million (including $14.3 million gains on the sale of vessels) for the first quarter of 2010. Diluted EPS this first quarter were $0.20. Revenues, net of commissions…

Tsakos Energy Navigation Limited ("TEN" or the "Company") (NYSE: TNP) reported results for the fourth quarter and full year ended December 31, 2010. -- Voyage revenues of $408.0 million. $3.1 million. million. -- EPS (diluted) of $0.50 ($0.58 per share excluding impairment charge). $7,647. -- Fleet utilization of 97.6%. -- Sale of five tankers with a net gain of $19.7 million. panamax product carriers with employment. -- Change from twice yearly to quarterly dividends. in 2010 of $0.60. -- $105 million raised in equity offerings. -- Approximately $1.0 billion in net income since NYSE listing. -- Voyage revenues of $95.0 million. million. -- Income $0.5 million, before impairment charge of $3.1 million. loss of $2.6 million, after impairment charge. vessel impairment charge. $7,284.

Tsakos Energy Navigation Limited (TEN) (NYSE: TNP) reported results (unaudited) for the second quarter and first half of 2010. Revenues, net of voyage expenses and commissions, were $83.3 million in the second quarter of 2010 compared to $88.6 million in the second quarter of 2009 primarily reflecting a slightly smaller fleet. Despite improved rates for crude carriers, the Company's product carriers achieved lower rates than in the second quarter of 2009, as did its LNG carrier. On average, TEN deployed 45.0 vessels versus 46.0 vessels in the prior year quarter. Fleet utilization remained high at 97.8%, the same level as in the second quarter of 2009. The average daily time charter equivalent rate per vessel was $22,059 down from $22,890 in the 2009 second quarter.

Classed by Germanischer Lloyd, the 31,600 dwt Seychelles Pride is a new addition to GL's stable of technologically sophisticated double-hull product tankers. Designed for the transport of chemicals (IMO Type 3), oil, and oil products, it represents a further development of the "Lindenau Safety Tanker Class 2004" which has received a number of international awards for innovative design and safety. Delivered in June 2002, it is the fifth vessel in this successful series to be classed by GL. Built for Seychelles Shipping Lines Ltd. by the Lindenau shipyard at Kiel, the new tanker will be operated by Columbia Shipmanagement Ltd. of Limassol.

United Overseas Tankers Ltd. (UOT), a General Maritime Corporation wholly-owned subsidiary, has entered into a alliance with Columbia Shipmanagement Ltd. to provide crew management services for all of General Maritime's vessels. The alliance will be named United Overseas Columbia Crewing Ltd. (UOCC) and will be responsible for such services as crew recruitment, training, payroll and quality control management. John P. Tavlarios, President and Chief Executive Officer of General Maritime Management LLC, commented, "The formation of United Overseas Columbia Crewing Ltd. is a further extension of our commitment to maintaining operational excellence. Through the relationship with Columbia Shipmanagement Ltd.