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Matson Q1 Results Show Improved Performance
Matson, Inc. today reported net income of $25 million, or $0.57 per diluted share for the quarter ended March 31, 2015. Net income for the quarter ended March 31, 2014 was $3.4 million, or $0.08 per diluted share. Consolidated revenue for the first quarter 2015 was $398.2 million compared with $392.5 million reported for the first quarter 2014. Matt Cox, Matson's president and chief executive officer, commented, "As expected, Matson carried strong momentum into the first quarter of 2015.
Eastern Launches MPSV for Hornbeck Offshore
Eastern Shipbuilding Group, Inc. launched the HOS Warland (Hull 241) on Friday March 6, 2015 for Hornbeck Offshore Services, LLC. The HOS Warland is Eastern’s first of two 302’x76’x26’ multipurpose service vessels (MPSV) launched with the Hornbeck designation HOSMPSV 310ES. The second vessel, the HOS Woodland (Hull 242), will launch this summer. The launching event was held at Eastern’s Allanton facility with hundreds of Eastern employees and guests in attendance.
Hands Across the Water
U.S. firms leverage Netherlands-based Damen Shipyard’s vessel designs and technical support. For nearly 40 years, Damen Shipyards Group in the Netherlands has licensed its vessel designs and technical support to yards owned by other companies. The business practice showcases not only the depth, variety and strength of the Damen portfolio, but also the reputation and reliability of its designs.
Otto Marine Builds 4 Vessels for PTK
Otto Marine Limited, an offshore marine group which owns and operates a large fleet of offshore support vessels with a worldwide presence, complemented by a technically proven shipyard, announced today that its shipyard, PT Batamec, has completed the construction of two units of harbor tug and two units of anchor handling tug supply (AHTS) for PT Pertamina Trans Kontinental (PTK). A delivery ceremony was held for the four vessels on March 27, 2015 at the Group’s shipyard in Batam, Indonesia.
Euroseas Reports Results FY & Q4 2014
Euroseas Ltd. an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced…
Containers Profit Up Thanks to Low Slot Cost
In spite of record vessel deliveries the container shipping profitability is expected to improve in 2015, driven by lower unit costs. The global fleet is expected to grow 7.2% in 2015…
Scorpio Tankers' Qtrly Dividend up 20%
Scorpio Tankers Inc. announced today that it has declared a quarterly dividend of $0.12 per share, reflecting an increase of 20% over the previous quarterly dividend…
Scorpio Tankers Receive Four More Newbuildings
Scorpio Tankers Inc. says it has taken delivery of four newbuilding vessels and agreed to time charter-in an LR2 product tanker that is currently under construction in South Korea.
Eastern Holds another Double Event for Hornbeck Offshore
Eastern Shipbuilding Group, Inc. announced another “double event” in Panama City, Florida. On Friday, August 8, 2014, the christening and subsequent launching of the HOS Brass Ring (Hull 209), was followed with the same day delivery of the HOS Black Rock (Hull 207) for Hornbeck Offshore Services, LLC. The launch event was held at Eastern’s Allanton facility with hundreds of Eastern employees and guests in attendance with an afternoon of perfect weather and launch conditions.
Bourbon Posts Weak First Half Results
Bourbon published its first half results for 2014, recording adjusted revenues up 8.9% at constant rates, reflecting an increase in the size of the fleet, despite a lower utilization rate (adjusted revenues increased 1.5% at current rates). Adjusted EBITDAR as a percentage of adjusted revenues, remained at a stable level of 34.4% following good cost control over the period, while adjusted EBIT decreased more than 50% largely due to €41.8 million increase in bareboat charter costs year on year…
Scorpio Tankers on Major Fleet Expansion
Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced today that it has reached an agreement with an unrelated third party to purchase an MR product tanker…
Scorpio Tankers: Latest Financial & Ship Delivery News
Scorpio Tankers Inc. says it has updated its stock buyback program; lists its latest new vessel deliveries, and gives the release date of its second quarter 2014 earnings report.
Shipbuilders Vard Report Financial Fair Sailing
Designers and shipbuilders of offshore and specialised vessels, Vard Holdings, has announced its financial results for the second quarter of financial year 2014 (“2Q2014”)…
Scorpio Tankers Update Finance & Newbuilding News
Scorpio Tankers inform of a new $150 million stock buyback program; initial purchasers' exercise of their option to purchase additional $60 million in convertible senior notes due 2019…
Eastern Launches Another Hornbeck Vessel
Eastern Shipbuilding Group, Inc. announced the launch of the HOS Black Watch (Hull 208) on Friday June 6, 2014 for Hornbeck Offshore Services, LLC. The HOS Black Watch is Eastern’s fourth vessel in Hornbeck Offshore’s HOSMAX 310 class series. The launching event was held at Eastern’s Allanton facility with hundreds of Eastern employees and guests in attendance. Also attending from Hornbeck was Bill Krewsky…
Scorpio Tankers Update on Finance, Vessel Deliveries
Scorpio Tankers Inc. gives details of its agreement to acquire some of its own common shares; to buy back stock; and also sets out a fleet update. Scorpio Tankers Inc.
Matson Q1 2014 Profits Slip, Market Growth Expected
Leading US carrier in the Pacific Matson report that in the first quarter of 2014 its financial results were negatively impacted by the timing of fuel surcharge collections.
MOL Achieves 2013 Profitability Goal
The president of Mitsui O.S.K. Combined with the continuing weaker yen and falling bunker prices, we saw a significant year-on-year improvement in profitability…
GulfMark Offshore Records its Highest Ever Q1 Revenue
He continued, "We came in just under the midpoint of our first-quarter revenue guidance, which resulted from slightly lower utilization than we originally anticipated, but overall, the average day rate increased during the quarter and we feel comfortable reaffirming our full-year revenue guidance of between $525 and $555 million. Consolidated revenue for the quarter increased 23% year-over-year, and we expect revenue will increase more than 10% in the second quarter…
Eastern Launches another Hornbeck Offshore Vessel
Eastern Shipbuilding Group, Inc. announced the launching of the HOS BLACK ROCK (Hull 207) on Friday March 28, 2014 for Hornbeck Offshore Services, LLC. The HOS BLACK ROCK is Eastern’s third vessel in Hornbeck Offshore’s HOSMAX 310 class series. The launching event was held at Eastern’s Allanton facility with hundreds of Eastern Employees and Guests attending despite rainy weather. Attending from Hornbeck was Bill Krewsky, Director of Engineering and Project Management.