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Stolt Comex Reports Results

Subsea contractor Stolt Comex Seaway S.A. reported results for the fourth quarter and the year ended Nov. 30, 1999. Net loss for the latest quarter was $1.5 million, on net operating revenue of $149.4 million, compared with net income of $9.6 million, on net operating revenue of $223.9 million for the same period last year. Net income for the year ended Nov. 30, 1999 was $16.2 million, on net operating revenue of $640.7 million, compared with a net income of $57.3 million, on net operating revenue of $649.8 million for the same period in 1998.


Kirby Corp. Profits Disappoint

Barge operator Kirby Corp. said its third-quarter profit would miss Wall Street expectations by about 10 percent because of a fall off in refined petroleum shipments and higher fuel prices. Houston-based Kirby, which operates a fleet of barges and towing vessels transporting chemicals, refined petroleum and agricultural goods on U.S. inland waterways, said in a statement its third-quarter profit would be between 36 cents and 38 cents per share


Royal Caribbean Announce Third Quarter Results

Royal Caribbean Cruises Ltd. announced net income for the third quarter of $159.2 million, or $0.82 per share. Third quarter earnings were negatively impacted by $21.3 million due to lost revenues and extra costs directly associated with passengers not being able to reach their departure ports during the weeks following September 11. Also included in the reported results is an additional $15.4 million in costs associated with business decisions taken in the aftermath of the attacks


CEVA Holdings 2Q, 2014 Results

  CEVA Holdings LLC, one of the world’s leading non‐asset based supply chain management companies, today reported results for the three months ended 30 June 2014.   Xavier Urbain, CEO of CEVA, said, “Our performance improvement coupled with the strong increase in our new business pipeline points to the company being on the right track for growth. Since joining CEVA in January, I have focused on strengthening the executive management team


Concordia Releases 2013 Q1 Report

Concordia Maritimes President, Hans Norén. (Photo: Concordia Maritime)

Concordia Maritime released its Interm Report 1, January 1 to March 31, 2013. Operating result of SEK 15.7 million Improved income for vessels on the spot market Strongest product tanker market since 2008 Total income, MSEK 127.9 EBITDA, MSEK 51.2 Operating result before impairment, MSEK 15.7 Impairment, MSEK 0.0 Operating result after impairment, MSEK 15.7 Result after tax, MSEK 7.6 Result per share, SEK 0.16 EBITDA, MUSD 8.0 Available liquid funds, MSEK 427.0


Tsakos Energy Navigation Reports Earnings Of $0.20 Per Share

TSAKOS.gif

Four newbuilding suezmaxes (including two shuttle tankers) chartered for a combined 53 years with minimum total revenues of $720 million Fleet utilization at 99% FIRST QUARTER HIGHLIGHTS * Voyage revenues of $99.2 million * Net income of $9.3 million * Earnings per share (diluted) of $0.20 * Average daily operating expenses per vessel decreased by 11.1% to $7,482 * Sale of aframax tanker with a gain of $5.8 million * Fleet utilization of 99%


MAN B&W Completes Engine Assessment Report on Green Plus

Biofriendly Corporation announced the completion of a report by MAN B&W. The report shows the details of an engine maintenance inspection on a 14,063 ton container ship powered by a MAN B&W two-stroke engine. The test was completed after Green Plus had been present in the engine for nearly one year. The report confirms that Green Plus does not cause harm to a Man B&W 2 stroke engine. Although MAN B&W has a policy that does not allow the endorsement of individual products


Stolt-Nielsen Reports Strengthened Financial Performance

Stolt-Nielsen reports (unaudited) results for Q2 & first half year 2012 Net profit attributable to shareholders in the second quarter was $37.0 million, with revenue of $538.8 million, compared with $8.0 million and $505.7 million, respectively, in the first quarter of 2012.  Net profit attributable to shareholders for the first six months was $45.0 million, with revenue of $1,044.4 million, compared with $63.6 million and $986.6 million, respectively, in the first half of 2011.


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. For the full year, Odfjell reports net results of USD 100 million, compared with net results of USD -36 million in 2015, and improved full year EBITDA to USD 238 million, from USD 190 million in 2015


BP Reports Q1 Results; Increases Dividend

BP Group Chief Executive Bob Dudley

  BP today announced its financial results for the first quarter of 2014. Underlying replacement cost profit1 for the quarter was $3.2 billion, compared with $2.8 billion for the previous quarter and $4.2 billion for the first quarter of 2013. Operating cash flow in the quarter was $8.2 billion. The company also announced a quarterly dividend of 9.75 cents per ordinary share to be paid in June, 8.3% higher than a year earlier


Updated Forecast: Floating Production System Orders

© ggw / Adobe Stock

World Energy Reports has released its midterm five year forecast of production floater orders. The forecast, detailed in the March 2017 WER report, reflects positive and negative developments in underlying business drivers since WER’s five year forecast last October.  


Singapore Ranked World's Top Maritime Capital

Photo: Maritime and Port Authority of Singapore

 Singapore has once again emerged in top place in a ranking Menon’s Leading Maritime Capitals of the World Report (Menon Report) for 2017.   The study, by Norwegian consultancy firm Menon Economics, looked at 24 objective indicators and garnered survey responses from more than


Newark Container Terminal Handles Record Volumes

Photo: PNCT

Port Newark Container Terminal (PNCT) handled a record number of container volumes without disruption to its customers following its January 2017 upgrade to the N4 terminal system. The move to Navis N4 is part of PNCT’s $500 million infrastructure modernization project that is expected to


Understanding Legal Liability in a Subchapter M Environment

© Ed Metz / Adobe Stock

There is more to SubM than just attention to safety. Protect yourself accordingly.   In today’s environment, safety management systems for brown water marine operators are standard industry practice, whether they come in the form of the American Waterways Operators (AWO) Responsible


DSME's Bailout Plan Cleared by Pension Fund

Photo: DSME

 South Korea’s National Pension Service (NPS) agreed to a restructuring of bonds issued by Daewoo Shipbuilding & Marine Engineering (DSME).    Reuters reported that this move is expected to help the world’s largest shipbuilder tide over a financial crisis


China COSCO to Post Profits for Q1

MV. COSCO LONGBEACH Photo:  China COSCO Holdings Company Limted

Boosted by an improving market and cost savings from a recent merger, China’s COSCO Shipping Holdings expected to report a profit in the first-quarter, says a report by Reuters.   In a stock market statement the  world's fourth-largest container shipping line said that it expects


New Training Program on Near-miss Reports

Photo: Videotel

Videotel, a KVH company, has launched a new training program, “Report a Near-Miss, Save a Life”, in association with The Standard Club, a protection and indemnity (P&I) club, which insures ship owners, operators, and charterers for their liabilities to third parties.


Safety Insight on Offshore Wind Industry

Photo: Danish Maritime Authority

 New safety analysis can be used to harmonize safety on board offshore vessels carrying wind turbine technicians. The Danish Maritime Authority is striving to make the International Maritime Organization (IMO) develop international standards.  


COSCO Shipping Reports $1.4 bln Loss for 2016

Photo: COSCO Shipping Holdings Co Ltd

China's COSCO Shipping Holdings Co Ltd made a loss last year of 9.9 billion yuan ($1.44 billion), the company reported on Thursday, due to both persistently weak freight rates and restructuring costs. Freight shipping firms have been hit hard by a prolonged downturn in rates caused by


Hapag-Lloyd: Positive Operating Result in a Challenging Environment

Photo: Hapag-Lloyd AG

 Hapag-Lloyd AG remains bullish on the substantial earnings contribution from synergies from CSAV acquisition and OCTAVE cost-cutting programme alongwith further synergies expected due to the merger with UASC.   Hapag-Lloyd closed the 2016 financial year with EBITDA of EUR 607


Statoil Wins Licences Off UK, 'Resets' Exploration Off U.S.

Norway's Statoil was the second top bidder for 13 oil exploration leases in the U.S. Gulf of Mexico and won six licences offshore Britain, it said on Thursday, in a sign it may be looking to boost reserves after slashing costs. "The importance of oil companies' ability to replenish


CNOOC Reports Worst Result Since At Least 2011

File photo: CNOOC

 China's offshore oil and gas producer CNOOC Ltd reported its worst annual result since at least 2011, with revenue from its core oil and gas business tumbling 17 percent last year, but it expects to raise output 2017 as oil prices rebound.  


DP World’s Net Income Exceed USD 1 Bln for First Time

DP World London Gateway. Photo: DP World

 Dubai-based port and terminal operator DP World announced strong financial results from its global portfolio for the twelve months ending 31 December 2016, despite “significant challenges” in the industry.   On a reported basis, revenue grew 4


Market Volatility Affects Sovcomflot

Tanker SCF Baltica. Photo:  PAO Sovcomflot

 Russia’s largest shipping company PAO Sovcomflot (SCF Group) has announced its results for the full year to 31 December 2016 that the compay claims to be an example of 'robust strategy delivering solid results despite market volatility in 2016.'  


Hapag-Lloyd Postpones UASC Takeover

Photo: UASC

German container shipper Hapag-Lloyd on Friday postponed the completion date for its takeover of United Arab Shipping Company (UASC) to May 31 from March 31, but said the deal, worth 7 to 8 billion euros ($7.52-8.60 billion), was not at risk.






 
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