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2007 Results

TOP Tankers Announces Release of 3Q Results and Conference Call

TOP Tankers Inc (Nasdaq: TOPT) announced plans to release its third quarter 2007 results on Thursday, November 8, 2007, before market opening. That same day, at 11:00 AM EST, management will host a conference call, which will be broadcast live over the Internet.


Arlington Tankers Announces Unaudited 2Q 2007 Results

Arlington Tankers Ltd. announced financial results for the second quarter and the six months ended June 30, 2007. For the quarter ended June 30, 2007, the Company's total revenues were $17.8 million, consisting of $16.5m in basic vessel charter hire and $1.3 million in additional charter hire that the Company received under its profit sharing arrangements. On the basis of the second quarter results, Arlington's Board of Directors has declared a cash dividend of $0.59 per share


Stolt-Nielsen S.A. Reports 4Q and 2007 Results

Stolt-Nielsen S.A. reported results for the fourth quarter and full year ended November 30, 2007. The financial statements for the full year ended November 30, 2007 have been audited. Highlights for the fourth quarter and full year ended November 30, 2007, compared with the fourth quarter and full year ended November 30, 2006, included: • Operating revenue for the fourth quarter of $460.8 million, up 14% compared with same quarter last year


Hornbeck Offshore Announces Second Quarter 2007 Results

Hornbeck Offshore Services, Inc. announced results for the second quarter ended June 30, 2007. Second quarter 2007 revenues were $75.1 million, up 6.2% from $70.7 million for the second quarter of 2006. Operating income was $33.9 million, or 45.1% of revenues, for the second quarter of 2007 compared to $32.7 million, or 46.3% of revenues, for the prior-year quarter. EBITDA for the second quarter of 2007 was $41


New Costa Cruise Ship: First Block Placed Down

Costa Cruise Ship First Building Block Hoisted: Photo credit Fincantieri

Construction work begins in Fincantieri's Margher Shipyard on the cruise ship 'Costa Diadema'. Weighing in at 132,500 gross tonnage and with accommodation for a total of 4,947 guests, this will be the biggest Italian-flagged cruise ship afloat.  She is the 10th Costa ship built by Fincantieri in Italy since 2000, with a total investment worth almost 5 billion euros. The building and fitting-out, which are due for completion at the end of October 2014, will employ around 3


Smit Internationale NV Exceeds Record

Smit Internationale NV released the following financial updates: •    Operating result for Harbour Towage increases, partly because of the extended interest in URS. •    Commencement of new contracts leads to growth Terminals. •    Result Salvage exceeds historical average. •    Considerable increase result Transport. •    Strongly improved result Heavy Lift in second half of the year.


Excel Maritime Announces 1Q Results Release Date

Excel Maritime Carriers Ltd, an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced that on Tuesday, May 22, 2007, after the close of the market in New York it will release its results for the first quarter ended March 31, 2007. The next day, Wednesday, May 23, 2007 at 10:00 a.m. EDT, the company’s management will host a conference call to discuss the results.


Teekay Announces 2Q Results

Teekay Corporation (TK) plans to release its financial results for the second quarter of 2007 after market close on Wednesday, August 1, 2007. The Company plans to host a conference call on Thursday, August 2 to discuss the results for the quarter. All shareholders and interested parties are invited to listen to the live conference call through the Company’s web site.


Excel Maritime Announces 2Q Results

Excel Maritime Carriers Ltd an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today that on Monday, August 13, 2007, after the close of the market in New York it will release its results for the second quarter ended June 30, 2007. On August 14, the company’s management will host a conference call to discuss the results.


ACL Lowers Earnings Guidance, Approves a $200m Stock Buyback Program

American Commercial Lines Inc. (ACL) announced that it is lowering its earnings guidance for the year ending December 31, 2007 to $1.45 to $1.65 in earnings per share for 2007 versus the current street consensus of $1.84. The Company’s previous guidance for 2007 was $1.75 to $1.95. The lowered guidance is driven primarily by the further weakness in the spot grain markets over first quarter levels and lower than planned productivity levels in the manufacturing segment during the second


Rickmers Sells Entire Containership Fleet to Navios

CMA CGM Azure (Photo: Rickmers Maritime)

Owner and operator of dry bulk and container vessels Navios Maritime Partners L.P. said it has reached an agreement to acquire Rickmers Maritime’s entire containership fleet. The deal, worth about $113 million, will see Navios Partners acquire 14 container vessels from Rickmers Maritime


DMC Gdańsk Gains EN 1090, ISO 3834 Certifications

Photo: Damen

Damen Marine Components (DMC) Gdańsk, one of the Damen Shipyards Group’s locations for the production of steel components including propeller nozzles, rudder installations and cranes, has received EN 1090 and ISO 3834 certifications.  


The 2007 Act: Highways to Waterways

© icarmen13 / Adobe Stock

The Energy Independence and Security Act of 2007 (the 2007 Act) authorized a Short Sea Transportation (SST) Program. As passed by the House, the legislation would have authorized $2 billion for the Maritime Administration (MARAD) Title XI Program and have extended the Capital Construction Fund


Brazilian Crude Trade Takes Unexpected Turn

Map: Clarksons Research

 Brazil has often found itself appearing in the energy sector headlines in recent years, but not always for the most positive reasons, says a monthly report by Clarksons Research.   During this time Brazilian oil trade dynamics have altered considerably


Large Rogue Waves More Common than Previously Thought

Image: University of Miami

 University of Miami Rosenstiel School of Marine and Atmospheric Science scientist Mark Donelan and his Norwegian Meteorological Institute colleague captured new information about extreme waves, as one of the steepest ever recorded passed by the North Sea Ekofisk platforms in the early


Cutterhead Shaft Bearing as Good as New After 10 Years of Dredging

The bearing was installed in 2007 to the Royal IHC-built dredger Al Mirfa  (Photo: Thordon Bearings)

After 10 years and more than 100,000 operating hours dredging up silt, sand, rocks and stones in some of the toughest marine environments imaginable, the Thordon Composite bearing installed on the Al Mirfa’s dredge cutter head shaft has emerged unscathed.


Odfjell Returns to Profit

Photo: Odfjell SE

Odfjell SE today reported preliminary full year and Q4 2016 results, showing improvement in financial performance in 2016 in spite of challenging markets. Efficiency programs continue to increase competitiveness, and the balance sheet is substantially strengthened.


Eruonav: Sale and Leaseback of Four VLCCs

Euronav NV (NYSE: EURN) entered into a five-year sale and leaseback agreement for four VLCC vessels  with investment vehicles advised by Wafra Capital Partners Inc., a private equity partnership. The four VLCCs are the Nautilus (2006), Navarin (2007), Neptun (2007) and Nucleus (2007)


Damen's CEO Receives KIVI Honorary Medal

Rene Berkvens receives an honorary medal from KIVI Photo Damen

On December 21, René Berkvens, CEO of Damen Shipyards Group, received the KIVI Honorary Medal for Marine Technology. KIVI (est. 1847) is the professional association of engineers in the Netherlands. The ceremony took place at Delft Technical University during the symposium ‘Maritime


Noonan Named CMA's 2017 'Commodore'

Jack Noonan, CEO, Chembulk Tankers

This morning CMA announced that Mr. John D. “Jack” Noonan, CEO of Chembulk Tankers, has been named as the CMA Commodore for the year 2017. Noonan joins a presigious list of previous award winners, including Ole Skaarup, Jacob Stolt-Nielsen, George Livanos, Phil Loree, Thomas Moran


Greater Cruise Sector Investment Expected in 2017

© Masyanya / Adobe Stock

According to its 2017 State of the Cruise Industry Outlook, trade association Cruise Lines International Association (CLIA) is predicting a steady pace of cruise travel interest and significant investment in the industry.   Increase in cruise travel is expected to continue throughout 2017


Tinto Appointed V.P., Vancouver Shipyards

Tony Tinto  Courtesy Seaspan’s Vancouver Shipyards

Seaspan’s Vancouver Shipyards has appointed Tony Tinto to Vice President, Planning & Estimating. Tony joined Vancouver Shipyards (VSY) in 2006 as a Project Manager, before moving over to affiliate company Vancouver Drydock in 2007 in a similar capacity


NYK-TDG Maritime Academy Graduates Its Class of 2016

Photo: NYK Line

 The NYK-TDG Maritime Academy (NTMA), which is located in the suburbs of Manila and jointly run by NYK and the Transnational Diversified Group (TDG), proudly graduated the 117 students comprising the academy’s Class of 2016.  


Dynagas, Gazprom in New Long-term Time Charter Contract

Photo: Dynagas LNG Partners

 Dynagas LNG Partners signed a new long-term time charter contract for the Clean Energy.   The Partnership, through one of its wholly owned subsidiaries, entered into a new long-term charter agreement with an affiliate of the Gazprom Group for the employment of its 2007 built 150


Recent Vessel Sales: October 2016

Vessel sales for October2016 (as of November 1) as prepared by Shipping Intelligence, Inc., New York. Date Reported - Vessel Name - DWT - Year Built - (Age) - Price in Millions USD   Bulk Carriers 10/16 - ORIENTAL PHOENIX - 14,181 - 1999 - (17) - $2.35






 
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