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.
MNOPF Funding Shortfall to Deliver Hard Hit
International accountant and shipping adviser Moore Stephens warned that the latest valuation relating to the post-1978 (new) section of the Merchant Navy Officers Pension Fund (MNOPF) will place further financial strain on shipping companies involved in the scheme. Under the valuation, the MNOPF trustees reported a funding shortfall as at March 31, 2012 of £492 million. Although this is less than had been anticipated, it nevertheless represents an increase of £152 million (discounted to £120 million) on the deficit recorded in the March 31, 2009 valuation. To eliminate the funding shortfall, the trustees have called for additional contributions with a present value of £120 million as at March 31…
