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24 Jul 2015

SEACOR Holdings Post 2Q Loss

SEACOR Holdings Inc. today announced its results for its second quarter ended June 30, 2015. For the quarter ended June 30, 2015, net income attributable to SEACOR Holdings Inc. was $0.7 million, or $0.04 per diluted share. For the six months ended June 30, 2015, net loss attributable to SEACOR Holdings Inc. was $18.9 million, or $1.06 per diluted share. Results attributable to SEACOR Holdings Inc. for the quarter ended June 30, 2015 included a loss on the extinguishment of the Company's Title XI bonds of $9.6 million, net of noncontrolling interests and tax, or $0.53 per diluted share. See "Debt Extinguishment Losses" below. For the preceding quarter ended March 31, 2015, net loss attributable to SEACOR Holdings Inc. was $19.6 million, or $1.10 per diluted share.

02 Dec 2014

Marine Noise Emissions: Is it Your Next Regulatory and Environmental Hurdle?

Marflex Variable Frequency Drive Cargo pump.

A different kind of emission in the compliance spotlight – above and below decks. The International Maritime Organization (IMO) Sub-Committee on Ship Design and Equipment during its 2012, 56th session submitted a draft revised code on noise levels onboard ships. The code set out mandatory noise level limits for machinery spaces, control rooms, workshops, cargo blocks and accommodation spaces in an effort to address health and safety issues on board ships, ATB’s and/or tugboats.

01 Aug 2014

SEACOR Holdings Announces Q2 Results

SEACOR Holdings Inc. has announced its results for its second quarter ended June 30, 2014. For the quarter ended June 30, 2014, net income attributable to SEACOR Holdings Inc. was $21.1 million, or $0.98 per diluted share. For the six months ended June 30, 2014, net income attributable to SEACOR Holdings Inc. was $32.6 million, or $1.58 per diluted share. For the preceding quarter ended March 31, 2014, the company reported net income attributable to SEACOR Holdings Inc. of $11.5 million, or $0.56 per diluted share. A comparison of results for the quarter ended June 30, 2014 with the preceding quarter ended March 31, 2014 is included in the "Highlights for the Quarter" discussion below. For the quarter ended June 30, 2013, net income attributable to SEACOR Holdings Inc.

11 Mar 2014

IMB Warns of West Africa Piracy Threat

Parate arrest: Photo credit EUNAVFOR

The ICC International Maritime Bureau is asking ships to be extra vigilant when transiting West Africa as piracy in the region becomes a growing concern. Since the beginning of the year, one vessel, MT Kerala, has been hijacked and six were boarded in West Africa. There was also one attempted attack. The hijacking of the Liberian-flag product tanker in January by Nigerian pirates has sparked fears these gangs are venturing further south. In that incident, the pirates hijacked the MT Kerala off the coast of Luanda in Angolan waters.

04 Mar 2014

SEACOR Holdings Earnings Dip

SEACOR Holdings Inc. has announced its results for its year and fourth quarter ended December 31, 2013. •    For the year ended December 31, 2013, net income attributable to SEACOR Holdings Inc. from continuing operations was $47.2 million, or $2.32 per diluted share, compared with $25.3 million, or $1.22 per diluted share, from continuing operations in the preceding year. •    For the quarter ended December 31, 2013, net income attributable to SEACOR Holdings Inc. from continuing operations was $8.4 million, or $0.41 per diluted share, compared with $30.3 million, or $1.36 per diluted share, from continuing operations in the preceding quarter ended September 30, 2013.

27 Jul 2012

SEACOR Holdings 2Q 2012 Results

SEACOR Holdings Announces Results for the Second Quarter Ended June 30, 2012. SEACOR Holdings Inc. (NYSE: CKH) announced its results for the second quarter ended June 30, 2012. Net income attributable to SEACOR Holdings Inc. for the quarter ended June 30, 2012 was $11.2 million, or $0.54 per diluted share, including a net loss from discontinued operations of $0.4 million, or $0.02 per diluted share. For the six months ended June 30, 2012, net income attributable to SEACOR Holdings Inc. was $47.7 million, or $2.29 per diluted share, including net income from discontinued operations of $19.0 million, or $0.92 per diluted share. On March 16…

02 Feb 2004

Seabulk to Purchase Two Foreign-Flag Product Tankers

Seabulk International, Inc. announced that it has agreed to purchase two 48,000-dwt product tankers from principals of World-Wide Shipping of Singapore. The tankers, the World Trumpet and World Trust, are modern double-hull vessels built in 2000 at the Daewoo Shipyard in Korea and suitable for worldwide trading. Delivery of the vessels is expected in March. They will be the first foreign-flag product tankers to join the Seabulk fleet. Seabulk currently has 10 product tankers operating in the domestic Jones Act market. "The international product market represents a new strategic direction for us," commented Gerhard E. Kurz, Chairman and Chief Executive Officer, "although it is really a natural extension of our domestic tanker business where we have been active for more than 25 years.

03 May 2004

OSG Buys Two U.S. Flag Tankers

Overseas Shipholding Group, Inc. has purchased and taken delivery of two 50,000-deadweight ton U.S. Flag product tankers from Attransco, Inc. The two double bottom vessels, the S/R Galena Bay and the S/R Puget Sound, were built in 1982 and 1983, respectively, and currently are on bareboat charter to SeaRiver Maritime, Inc., a subsidiary of ExxonMobil. "This acquisition demonstrates OSG's commitment to expand its U.S. Flag business. In light of the anticipated decline in Jones Act product tanker tonnage expected over the next few years, OSG continues to explore various options to increase its participation in this trade," said Morten Arntzen, OSG's President and Chief Executive Officer.

07 Jun 2004

Leaders of the Pack

MarineNews is pleased again this year to showcase the thoughts and opinions of workboat industry luminaries and executives, including: Terry Becker, President, Riverway Co.; Larry Daily, President, Alter Barge Line, Inc.; Cherrie Felder, Vice President, Channel Shipyard Companies; William D. Friedman, Executive Director, Ports of Indiana; Berdon Lawrence, Chairman, Kirby and Peter H. Stephaich, Chairman of Campbell Transportation Company, Inc., and C&C Marine Maintenance, Inc. President Riverway Co. For those who may not be familiar with Riverway Co., we are a "medium" sized barge line that operates approximately 500 barges and eight line haul towboats, moving dry bulk commodities primarily on the Mississippi River and Illinois Waterway.

28 Feb 2001

Hvide Marine To Be Renamed Seabulk International

Hvide Marine Inc. reported a net loss of $9.6 million for the fourth quarter ended December 31, 2000, on revenues of 80 million. In the year-earlier period, the company had a net loss of 197 million, including charges related to its reorganization, on revenues of $76.8 million. Operating income in the fourth quarter of 2000 was 8.1 million versus an operating loss of $11.8 million in the fourth quarter of 1999. For all of 2000, the company reported a net loss of $29 million or 2.89 per diluted share on revenues of $320.5 million. In 1999, the Company had a net loss of $249.9 million on revenues of $342.2 million. Operating income in 2000 totaled $25.4 million versus an operating loss of 9.5 million in 1999.

13 Sep 2007

Algoma Orders Tankers in China

Algoma Central Corp., through a wholly-owned subsidiary, has entered into an agreement with the Jiangxi Jiangzhou Union Shipbuilding Co., Ltd. located in Jiangxi, China to construct three double-hulled, IMO II, petroleum product tankers. Deliveries of these three 16,500 DWT vessels are scheduled to commence in late 2010 with completion in early 2011 and they are expected to cost pproximately $91m in total. These vessels will be operated and employed jointly with Bernhard Schulte, Sloman Neptun and Intrepid Shipping who have ordered a series of sister ships from the same shipyard. Trading areas for the ships are expected to be focused in Europe, the Mediterranean and Asia. Corporation within the global shipping industry.

21 Jun 2006

OSG to Time Charter Product Carriers

Overseas Shipholding signed agreements with subsidiaries of Cido Tanker Holding to timecharter a pair of product/chemical carriers for 10 years. The 47,000 dwt ships will be built at Hyundai Mipo Dockyard and are scheduled for delivery in 2009. The two vessels, the Overseas Polaris and the Overseas Pisces, will have six segregations, and will be able to transport petroleum products, vegetable oils and IMO III chemicals. Delivery of the vessels will increase the number of International and U.S. Flag product carriers in OSG's fleet to 54.

07 Mar 2006

OSG Charters Two Product/Chemical Carriers

Overseas Shipholding Group, Inc. signed an agreement with subsidiaries of Cido Tanker Holding Co., a privately held shipping company, to time charter two product/chemical carriers for a period of seven years, with an additional three year extension option for each vessel. The vessels will be built by Hyundai Mipo Dockyard in South Korea and are scheduled to be delivered to OSG in May and June 2008. The two vessels, the Overseas Aquarius and the Overseas Leo, will be sister ships having a capacity of 47,000 deadweight tons and six segregations, and will be able to transport petroleum products, vegetable oils and IMO III chemicals. Delivery of the vessels will increase the number of International and U.S. Flag product carriers in OSG's fleet to 52.

12 Nov 2002

SCA: Tanker Rates Justify Higher Construction Prices

U.S.-flag ocean-going tank barge fleet greater than 5,000 gross tons). causing charter rates to rise along with demand. According to the Shipbuilders Council of America (SCA), with long-term charter rates for U.S.-flag double-hull tankers now at a level of $37,000/day, rates justify construction costs of approximately $85 million per vessel. $34,700/day, a rate well below today’s market. a realistic percentage in today’s financing market. long-term charter rates justify construction costs of upwards of $80 million per vessel. qualified operators thus improving operator’s cash flow. advantage of asset depreciation benefits as the owners of the vessels. 15 years. million using vessel leasing financing.

07 Oct 2005

OSG Signs Time Charter for Four

Overseas Shipholding Group, Inc. signed an agreement with Parakou Shipping Ltd., an international shipping company based in Hong Kong, to time charter four product carriers for 10 years each. vessels, two of which are already under construction, will be built by STX Shipbuilding Co., Ltd. in Korea and are scheduled for delivery to OSG in September and October 2006 and April and June 2007. The product carriers, all sister ships with a capacity of 51,000 dwt and six segregations, will be able to transport petroleum products, vegetable oils and IMO III chemicals. Delivery of the vessels will increase the number of International and U.S. Flag product carriers in OSG's fleet to 50.