Higher Finance News

MISC has announced its financial results for the financial period ended March 31, 2019.Financial Highlights:Group revenue for the quarter ended March 31, 2019 was higher than the corresponding quarter ended March 31, 2018.Group profit before tax for the quarter ended March 31, 2019 was higher than the corresponding quarter ended March 31, 2018.Group Revenue, Operating Profit and Profit Before Tax for the Quarter Ended March 31, 2019Group revenue for the quarter ended March 31,2019 of $544 million was 12.7% higher than the corresponding quarter’s revenue of $482 million.

BIMCO has today published the next in its series of reports looking at the “road to recovery” for dry bulk shipping beyond the current market difficulties. The foundation for the new report follows the conclusion of BIMCO’s previous analysis – that due to the severity of the current crisis the sector can only return to profitability in 2019 if shipowners deliver “zero supply side growth”, year on year. BIMCO’s latest report models the wider impact of the crisis – the effect of which reaches beyond dry bulk to other major sectors of shipping such as tankers and containers. It concludes that major changes are on the horizon. o Basel III – and the proposed Basel IV – regulations will increase the cost of bank finance for shipping.

Shipping confidence, notably on the part of charterers and managers, improved for the second successive quarter in the three months to end-August 2016, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. In August 2016, the average confidence level expressed by respondents was 5.4 on a scale of 1 (low) to 10 (high). This is an improvement on the 5.1 recorded in May 2016, and the highest rating for the past nine months of the survey, which was launched in May 2008 with a confidence rating of 6.8.

Overall confidence levels in the shipping industry fell during the three months to November 2014 to their lowest level for two years, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. The survey revealed increasing concern about the high cost of achieving compliance with new regulations, and ongoing doubts about overtonnaging. But it was not all bad news, with charterers, managers and brokers all more confident than they were three months previously of making a new investment over the coming year.

Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. Freight rates look set to improve or maintain existing levels over the next twelve months, while an increase in private equity funding is expected to have a major impact on the industry. In February 2014, the average confidence…

Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 2013, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. There was encouraging news on freight rates and evidence of an increased willingness to invest. But concern persists on overtonnaging, operating costs and the cost of regulation. In November 2013, the average confidence level expressed by respondents in the markets in which they operate was 6.1 on a scale of 1 (low) to 10 (high)…

Overall confidence levels in the shipping industry held firm over the three-month period to August 2013, maintaining the highest level reached since November 2010, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. Doubts persist, however, over the level of excess tonnage and the resultant effect on freight rates, while there is growing concern over the increasing cost of regulation. In August 2013, the average…

Overall confidence levels in the shipping industry increased in the three months ended May 2012, to reach their highest level since February 2011, according to the latest Shipping Confidence Survey from leading accountant and shipping consultant Moore Stephens. This is the fourth successive quarter in which there has been an improvement in confidence, leading to an increased expectation of new investment on the part of respondents, despite an anticipated increase in the cost of finance over the next twelve months.

Overall confidence levels in the shipping industry fell to their lowest level for three and a half years in the three months ended August 2011, according to the latest shipping confidence survey by leading accountant and shipping adviser Moore Stephens. Fears about overtonnaging, and continuing uncertainty about the global economy, were the main reasons for the decline in confidence. The rising cost of marine fuels was also a cause for concern. In August 2011, the average confidence level expressed by respondents in the markets in which they operate was 5.3 on a scale of 1 (low) to 10 (high), compared to 5.6 in the previous survey in May 2011.

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) (NASDAQ: SHIPW) announced its operating results for the second quarter and six months ended June 30, 2010. Dale Ploughman, the company's Chief Executive Officer, stated: "The second quarter of 2010 was another milestone in the development of our company. Without, in our opinion, sacrificing the strength of our balance sheet, we concluded another transformational transaction with the acquisition of a controlling interest in Maritime Capital Shipping Limited ('MCS'). We expanded our controlled fleet to a total of 20 dry bulk vessels and decreased its average age from 14.5 years to 12.8 years. In addition, we enhanced our fleet's operational versatility, as we increased our presence in all dry bulk vessel classes.