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Third Quarter

SafeBulkers Increase Q3 2013 Dividend Despite ...

Greece's SafeBulkers Inc. reports decrease in profits in its third quarter 2013 financial results but increases company dividend to reflect an improved charter market. Summary of Third Quarter 2013 Results Net revenue for the third quarter of 2013 decreased by 10% to $41.9 million from $46.8 million during the same period in 2012. Net income for the third quarter of 2013 decreased by 44% to $11.6 million from $20.7 million, during the same period in 2012. Adjusted net income1 for the third quarter of 2013 decreased by 43% to $13.1 million from $22.8 million, during the same period in 2012. EBITDA2 for the third quarter of 2013 decreased by 25% to $23.4 million from $31.4 million during the same period in 2012. Adjusted EBITDA1 for the third quarter of 2013 decreased by 26% to $24.8 million from $33.4 million during the same period in 2012. Earnings per share (“EPS”) and Adjusted EPS1 for the third quarter of 2013 were $0.14 and $0.16 respectively, calculated on a weighted average number of shares of 76,684,316, compared to $0.27 and $0.30 in the third quarter 2012, calculated on a weighted average number of shares of 76,658,865. The Board of Directors of the Company declared a dividend of $0.06 per share of common stock for the third quarter of 2013. Management Commentary


Carnival Reports 3Q Earnings

Carnival Corporation & plc reported net income of $734.3 million ($0.90 Diluted EPS) on revenues of $2.52 billion for its third quarter ended August 31, 2003, compared to net income of $500.8 million ($0.85 Diluted EPS) on revenues of $1.44 billion for the same quarter in 2002. Net income for the nine months ended August 31, 2003 was $988.9 million ($1.42 Diluted EPS) on revenues of $4.90 billion, compared to net income of $824.6 million ($1.40 Diluted EPS) on revenues of $3


Hercules Offshore Reports Q3 Earnings Rise

Hercules Offshore Inc. a provider of shallow-water drilling and lift boat services to the oil and natural gas exploration and production industry, announced financial results for its third quarter, reporting increased profit from higher revenues. The Houston, Texas-based company reported third net income of $29.7 million or $0.90 per share, compared to $10.1 million or $0.41 per share in the third quarter of 2005.


Stolt-Nielsen S.A. Reports Improved Third Quarter Results

Stolt-Nielsen S.A. (Nasdaq: SNSA; Oslo Stock Exchange: SNI) reported results for the third quarter and the nine-month period ended August 31, 2001. Net income for the latest quarter was $29.7 million, or $0.54 per share, on net operating revenue of $735.4 million, compared with a net loss of $0.3 million, or $0.01 per share, on net operating revenue of $607.8 million for the third quarter in 2000. The weighted basic average number of shares outstanding for the third quarter of 2001 was 54


Transocean Reports Q3 2009 Results

Transocean Ltd. (NYSE:RIG) reported net income attributable to controlling interest for the three months ended September 30, 2009 of $710 million, or $2.19 per diluted share, compared to net income attributable to controlling interest of $1.063 billion, or $3.30 per diluted share for the three months ended September 30, 2008. Revenues for the third quarter of 2009 were $2.823 billion compared to $3.192 billion for the third quarter 2008.


General Dynamics Reports 3Q 2013 Results

General Dynamics reported third-quarter 2013 net earnings of $651 million, or $1.84 per share on a diluted basis, on revenues of $7.8 billion. This compares to 2012 third-quarter net earnings of $600 million, or $1.70 per diluted share, on revenues of $7.9 billion. Third-quarter 2013 operating earnings rose $52 million to $957 million, a 5.7% increase over the year-ago quarter. Margins Company-wide operating margins for the third quarter of 2013 were 12


TEN to Host Third Quarter 2003 Conference Call

Tsakos Energy Navigation Ltd. will report earnings for the third quarter of 2003 before the market open on Friday, November 7, 2003. That same day, at 10:00 A.M. Eastern Time, TEN will host a conference call to review third quarter results as well as management's outlook for the business.


Mitcham Industries 3Q 2009 Results

 Mitcham Industries, Inc. (NASDAQ:MIND) announced financial results for its fiscal 2009 third quarter ended October 31, 2008. Highlights include: Core leasing revenues increased 19 percent to $10m for the third quarter of fiscal 2009 from $8.4m for the third quarter of fiscal 2008. Net income for the third quarter increased to $2.7m, or $0.27 per diluted share, from $2.4m, or $0.24 per diluted share, in the third quarter of fiscal 2008.


CGGVeritas Reports Seismic Fleet Well Employed Q3 2012

CGGVeritas provides its seismic survey vessel utilization & fleet allocation updates for the third quarter 2012. CGGVeritas is a leading international pure-play geophysical company delivering a wide range of technologies, services and equipment through Sercel, to its broad base of customers mainly throughout the global oil and gas industry. Vessel utilization for the third quarter 2012:     •    The vessel availability rate1 was 93%


NOL Records Q3 Loss, Freight Market Remains Weak

Ng Yat Chung (Photo: NOL)

Shipping company Neptune Orient Lines Ltd (NOL) said on Friday its third-quarter net loss widened from a year earlier to $96 million, due to weak freight rates. NOL, controlled by Singapore's state investor Temasek Holdings, reported a revenue of $1.2 billion for the third quarter, which fell 28 percent on the year. "The absence of the traditional third-quarter peak season in Europe and North America led to severe freight rates erosion in major trade lanes


Awilco LNG Reduces Net Loss in Q2

Photo: Awilco LNG

 Norwegian based LNG transportation provider Awilco LNG reduced its net loss in the second quarter of this year due to higher activity of its vessels and steady spot rates.   Awilco LNG’s net loss dropped to $10.1 million in the second quarter, as compared to $11


MacGregor Wins Contracts for Five Chinese Bulkers

MacGregor, part of Cargotec, has received an order from Yangzijiang shipyard in China to equip five 62,000 dwt open hatch bulk carriers (OHBC) with hatch covers and cranes. Equipment deliveries will start in 2018 and continue until 2019. The order was booked into Cargotec's third quarter 2017


Dim Q3 Forecast for Korean Shipyards

File photo: Hyundai Heavy Industries

 South Korea's major shipyards are projected to report weaker-than-expected earnings for the third quarter of the year, due to increased costs and the construction of low-priced ships amid decreased new orders.   Yonhap News Agency, quoting data compiled by Yonhap Infomax


Global BCOs Hit by Rising Contract Rates from Asia

Graph: Drewry Benchmarking Club

 Contract freight rates paid by Beneficial Cargo Owners to move their products by container have increased for a 4th consecutive quarter, according to actual contract rate data from the Drewry Benchmarking Club.   Average contract rates on two major container trade routes - from Asia


Polarcus Fleet Booked through Q3

Photo: Polarcus

Polarcus Limited said it has received a letter of award for a broadband 3D marine seismic project in Asia Pacific. With this contract, Polarcus’ fleet is fully booked through to the end of the third quarter 2017. The project is due to commence in the third quarter of 2017 and will run


Kirby Corp Acquires Stewart & Stevenson

File photo: Kirby Corporation

Houston based tank barge operator Kirby Corporation said it has signed an agreement to acquire the assets and businesses of Stewart & Stevenson LLC for approximately $710 million. The agreement was signed on June 13 by the companies’ executive chairmen, Joseph H


Dryships Time Charter Contract for Newcastlemax Vessels

Image: DryShips Inc

 DryShips Inc., a diversified owner of ocean going cargo vessels, announced that it has entered into a time charter with a major coal and steel trader for its fourth and last of its 206,000 dwt Newcastlemax drybulk vessels.   The contract has a duration of about one year


Solstad Farstad Sells 2010-Built AHTS

Far Shogun. Photo:  SolstadFarstad ASA

 Solstad Farstad, which claimed to be the world’s largest OSV firm, has sold a relatively new AHTS vessel Far Shogun, since its formation last month following the mega-merger of three leading OSV companies in Norway.  The 2010-built, 23


Kirby Announces 2Q Results

Photo courtesy of Kirby

Kirby Corporation (NYSE: KEX) has announced net earnings attributable to Kirby for the second quarter ended June 30, 2017 of $25.8 million, or $0.48 per share, compared with $38.9 million, or $0.72 per share, for the 2016 second quarter.   


TEN Takes Delivery of Aframax Crude Tanker

Crude, product and LNG tanker operator TEN, LTD. announced the delivery of the aframax tanker Stavanger TS, the eighth in a series of nine tankers built against long-term employment to a major European oil concern and one of the four, of this particular order


TGS Shares Fall after Q2 Sales Disappoint

Shares of the world's leading provider of geoscience data to oil companies TGS fell by more than 6 percent on Thursday, after disappointing sales in the second quarter.   TGS reported $108 million in quarterly revenues, 6 percent below consensus


NAO Says Seven PSVs are Operational

Photo: Nordic American Offshore

 Nordic American Offshore (NAO) has ten high-quality Platform Supply Vessels (PSVs) built in Norway in the period 2012-2016.    "Seven of our ten vessels are in operation. Going into the third quarter, an improvement in the PSV market has taken place


Hyundai Merchant in the Red in Q2

Photo: Hyundai Merchant Marine Co Ltd

 South Korea's Hyundai Merchant Marine (HMM) suffered an operating deficit of USD 112 million in the second quarter, the company said in a regulatory filing. The third quarter will bring much better results, says the carrier.   Yonhap News Agency said that the company attributed


Navig8 to Acquire 32 Chemical Tankers

Photo: Navig8 Chemical Tankers Inc.

 Navig8 Chemical Tankers Inc,  international  shipping company focused on the transportation of chemicals, has  entered  into  contracts  to  acquire  32  modern,  fuel-efficient  newbuilding  chemical  tankers.   


Hapag-Lloyd Posts H1 Operating Profit

File Image: CREDIT: Hapag Lloyd

German container shipping group Hapag-Lloyd swung to a first-half operating profit as it raised transport volumes and freight rates stabilised, but it still posted a net loss after higher ship fuel costs weighed on first quarter earnings.  






 
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