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Record Results

KMG Reports 2005 Record Results

Kerr-McGee Corp. reports net income for the 2005 fourth quarter of $2.2 billion ($18.46 per diluted common share), compared with $133.8 million ($.86 per share) for the 2004 fourth quarter. Fourth-quarter 2005 operating profit from continuing operations was $653.9 million, compared with $276.1 million for the 2004 period. Exploration and production operating profit was $633.8 million, compared with $266.5 million in the 2004 fourth quarter. Higher operating profit in 2005 reflects net pretax gains on property sales of $169.1 million compared with a net loss of $21.8 million in the prior-year quarter. Additionally, higher oil and gas sales prices contributed to the increase but were partially offset by lower sales volumes primarily due to the continuing effects of the 2005 hurricanes on third-party-operated infrastructure in the Gulf of Mexico and divestment of noncore U.S. onshore properties.


Kirby Corp. Announces Record Results

Kirby Corporation reported that for the fourth quarter ended December 31, 2000, net earnings were a record $9,088,000, compared with $3,974,000 for the 1999 fourth quarter. For the 2000 year, net earnings were $34,113,000, up from $21,441,000 in 1999. Joe Pyne, Kirby's President and Chief Executive Officer, said, "The 2000 fourth quarter net earnings of $.38 per share and 2000 year net earnings of $1.39 per share are record results for Kirby. Our EBITDA results of $33,615,000, or $1


K-Sea Announces Record Results

K-Sea Transportation Partners L.P. reported record results of operations for its fiscal 2006 first quarter ended September 30, 2005. The Company also announced that its distribution to unitholders in respect of the first quarter will increase by $0.01 to $0.57 per unit, or $2.28 per unit annualized. The distribution will be payable on November 14, 2005 to unitholders of record on November 8, 2005. For the three months ended September 30, 2005, the Company reported operating income of $6


Jotun Reports Record Year

The Jotun Group will probably match last year's record results. At the end of the first 8 months of the year the Group's operating income totalled NOK NOK 4 619 million. Not only was this NOK 359 million up on the same period last year, but the operating income is equal to last year, despite unfavourable exchange rate developments and the continuing high price of raw materials. The performance is in line with last year, which was the best year ever


Hornbeck Offshore Announces 2Q Results

Hornbeck Offshore Services, Inc., announced record results for the second quarter ended June 30, 2006. Second quarter revenues increased 72.0 percent to $70.7mcompared to $41.1m for the second quarter of 2005. Operating income was $32.4m, or 45.8 percent of revenues, for the second quarter of 2006 compared to $13.8m, or 33.6 percent of revenues, for the prior-year quarter. These results were driven by record dayrates in each of the company's business segments and a 45


UK's Port of Tyne Shortlisted for Global Award

The Port of Tyne has been shortlisted as a finalist for the Lloyd's List Global Awards 2012 in the Port Operator of the Year category. This award recognises the company or port that has maintained the highest standards of operational efficiency and customer service throughout the year. The award is open to any international port that can demonstrate exceptional innovation, improved efficiency, profitability and successful investment in port operations.


Costa Announces Record Results

The ordinary general meeting of shareholders of Costa Crociere S.p.A, held March 31, 2004, adopted the financial statement for the period December 1, 2002/November 30, 2003. 2003 was a record year for Costa Crociere: the company topped the half-million mark for the number of passengers carried in a 12-month period (a historic achievement and a first for a European cruise operator) with 557,300 guests, compared to 462,036 the year before (+21%), amounting to 4,300


Topaz Second Vessel for $225M BP Contract

Photo courtesy Topaz Energy and Marine

Topaz Energy and Marine recently took delivery of the newest addition to its fleet, the Caspian Protector. The vessel will be deployed in Azerbaijan in support of a 10 year $225m BP contract won in 2008. The Caspian Protector is a state-of-the-art 200-ft vessel designed for emergency recovery and response (ERRV), standby duties and fire fighting operations. It is the first vessel in the Caspian region to be equipped with three daughter craft and two fast rescue craft


Hapag-Lloyd Orders Four 13,200-TEU Ships

Following a record result in the first nine months of 2010 and its successful refinancing on the capital market, Hapag-Lloyd is again investing in future growth. Hapag-Lloyd ordered four large vessels with a capacity for 13,200 standard containers (TEU) each from the Korean shipbuilding company Hyundai Heavy Industries today. It was also agreed that the six new vessels ordered in the beginning of 2008 should be upgraded to the same capacity


HAVEP: Two Passenger Vessels Detained

Preliminary results from the Harmonized Verification Program (HAVEP) on passenger ships, carried out between January 1, 2013 and December 31, 2013 in the Paris MoU region show that two passenger ships were detained over the 12 month period as a direct result of the HAVEP for deficiencies related to operation control and emergency preparedness. While the results of the HAVEP indicate reasonable overall compliance with SOLAS requirements for passenger ships


Giant Iceberg Breaks off Antarctica

Thermal wavelength image of a large iceberg, which has calved off the Larsen C ice shelf. Darker colors are colder, and brighter colors are warmer, so the rift between the iceberg and the ice shelf appears as a thin line of slightly warmer area. Image from July 12, 2017, from the MODIS instrument on NASAs Aqua satellite. (Image: NASA Worldview)

One of the biggest icebergs on record has broken away from Antarctica, scientists said on Wednesday, creating an extra hazard for ships around the continent as it breaks up.   The one trillion tonne iceberg, measuring 5,800 square km, calved away from the Larsen C Ice Shelf in Antarctica


SC Ports Reports Record Volume in FY2017

Wando Welch Terminal. Photo: South Carolina Ports Authority

 South Carolina Ports Authority moved a record 2.14 million twenty-foot equivalent units in fiscal year 2017, an increase of 10 percent over the previous year’s container volumes.   Highest-ever June volumes of 183,237 TEUs gave SCPA a strong finish to its fiscal year


Port of LA Sets FY Cargo Volume Record

File photo: Port of Los Angeles

The Port of Los Angeles reports it has closed its 12-month fiscal year with total cargo volumes of 9.2 million twenty-foot units (TEUs), a new annual record for most container throughput for a Western Hemisphere port. Volumes increased 8.1 percent in June compared to the same period last year


Race Boat to Attempt US-Cuba Speed Record

(Photo: SilverHook / Lucas Cup)

An upcoming world speed record attempt by Nigel Hook and the crew of SilverHook will be a two-for-one as they set out to achieve the fastest crossing from the U.S. to Cuba, and then back.   Captain Hook has chosen August 17 to try to set two speed records in what is considered the most


Marshall Islands Extends Electronic Logbook Approval

K-Fleet Logbook (Photo: Kongsberg)

The Maritime Administrator of the Marshall Islands has extended its approval of the K-Fleet Logbook system, enabling more than 4,000 flag state registered vessels to introduce digital reporting for oil record and garbage record logbooks. The approval states that K-Fleet Logbook may now be used to


CMA CGM Posts Higher Q1 Profits

Photo courtesy of CMA GCM

Container shipping line CMA CGM posted higher first-quarter profits, helped by a turnaround at recently acquired NOL, and gave an upbeat assessment for the current quarter in another sign that the shipping industry is emerging from a slump.  


Acquisitions to Yield Better Results for Hoegh LNG

Höegh Gallant. Photo: Höegh LNG Partners LP

 Hoegh LNG Partners closed the acquisition of 51% interest in Höegh LNG Colombia Holding, the owner of the entities that own and operate the Höegh Grace on January 3, 2017.   The results of the Höegh Grace contributed to the Partnership's earnings for the full first


Nitin Gadkari Lays Foundation of USD 173 mln Projects at Mumbai Port

Nitin Gadkari, Indian Shipping Minister. Photo: Official FB Page

 To boost port infrastructure, Indian Shipping Minister Nitin Gadkari laid foundation stone of eight connectivity projects worth Rs 1,117.03 crore  (USD 173 mln ) at Jawaharlal Nehru Port Trust (JNPT), Mumbai.   The projects include integrated common rail yard facility at JNPT


U.S. Natural Gas Prices Tumble as Coal Surges

File Image (credit Inland Marine)

U.S. natural gas prices have tumbled by more than 10 percent since late May as hedge funds start to liquidate a near-record bullish position accumulated in the expectation of a tighter market that failed to materialise.   Hedge funds and other money managers reduced their combined net long


MLC, 2006 Inspections Yield Positive Results

© momentscatcher / Adobe Stock photo

Aiming to verify that the minimum standards for working and living conditions have been implemented for crews working on board commercial vessels, as well as generate more awareness, Port State Control Officers in the Paris MoU region have carried out a Concentrated Inspection Campaign (CIC) on


12 Flags on Paris MOU Black List for 2016

Logo: Paris MOU

 At its 50th meeting last month, the Paris MoU Committee approved the 2016 inspection results and adopted new performance lists for flags and Recognized Organizations. These lists will take effect from 1 July 2017.   The “White


Ever Sigma Discharges 9 millionth TEU at Los Angeles Port

Photo: Port of Los Angeles

 Evergreen Line’s Ever Sigma container ship discharged the 9 millionth TEU (twenty-foot equivalent unit) to pass through the Port of Los Angeles in the span of 12 months, setting a new annual record for the most container throughput of any port in the western hemisphere.  


Expanded Panama Canal Celebrates First Anniversary

Photo: Panama Canal Authority

 The Panama Canal commemorated the one-year anniversary of the inauguration of its Expanded Canal, one of the most significant milestones in the history of the 102-year old waterway and a defining moment for the people of Panama and the global maritime industry.  


Pilbara Ports Breaks Cargo Handling Record

Photo: Pilbara Ports Authority

 Pilbara Ports Authority (PPA) has delivered a record annual throughput of 668.5 million tonnes (Mt) for the 2016/17 financial year. This is an increase of 35Mt or 6% from last year’s annual throughput.   In June 2017, PPA achieved a total monthly throughput of 55


Ocean Conservancy Calls for Clean Arctic

Photo: Ocean Conservancy

 The following statement was issued by Sarah Bobbe, Arctic Program Specialist at Ocean Conservancy, at the conclusion today of the International Maritime Organization’s Marine Environmental Protection Committee meeting where member states supported a proposal to identify mitigation






 
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