Obituary: John Newbold
John "Jock" Newbold died Saturday, April 12, in New York. He was among the most well-known and highly respected figures in shipping and financial circles. Jock was most recently a Non-Executive Director of Castalia Partners Limited and also a member of the Advisory Board of Castalia Straits L.P. Newbold retired from Citigroup in 1997 after a 36-year career, the last 21 of which were spent with Citibankās business with the shipping industry. From 1985 to 1997, Newbold was Division Executive in charge of the Global Shipping Division with offices in New York, London, Piraeus, Tokyo and Hong Kong. Earlier in his career, he held positions as Head of the Corporate Bank in Japanā¦
Seacor Sells Ships, Stake in Mexican Marine Services Company
According to reports, Houston-based marine services company Seacor Holdings Inc. on Monday said it has sold five vessels and its 40 percent stake in Maritime Mexicana SA de CV to diversified transportation company Grupo TMM SA for $57 million. Seacor, which serves the offshore oil and gas industry, said the five ships are working under time-charter contracts supporting drilling activity in the Gulf of Mexico. Mexico's Grupo TMM has flagged the ships as Mexican. Maritime Mexicana provides marine services along Mexico's Gulf Coast. Shares of Seacor dropped $1 to close at $74.52, while American depositary shares of Grupo TMM fell 10 cents to close at $4.40 on the New York Stock Exchange. Source: AP
Grupo TMM Reports 4Q, Full-Year 2005 Results
Grupo TMM, S.A. reported earnings of $0.41 per share for the fourth quarter of 2005 compared to a loss of $1.62 per share a year ago, and earnings of $3.02 per share for the full year of 2005 compared to a loss of $1.80 per share in the same period of last year. TMM reported the following results for the fourth quarter: Revenue of $88.3 million, up 30.2 percent from $67.8 million the previous year; Operating income of $2.8 million, up from an operating loss of $0.1 million a year ago; Operating margin of 3.2 percent, up 3.3 percentage points from the previous year; Net income of $23.6 million compared to a net loss after discontinuing operations of $92.3 million the previous year.
