Marine Link
Tuesday, January 16, 2018

2007 Results News

OceanFreight to Release of 2Q 2007 Results

OceanFreight Inc. a NASDAQ listed bulk shipping company announced today that it will release its results for the second quarter period ended June 30, 2007 after the close of the market in New York on Wednesday, July 25, 2007. The declaration of the Company’s dividend for the second quarter of 2007 will also be announced at that time. On Thursday, July 26, 2007 at 8:00 A.M. EDT, the Company’s management will host a conference call to discuss the results.

Omega Navigation 1Q 2007 Results

Omega Navigation Enterprises, Inc. , a provider of global marine transportation services focusing on product tankers announced its unaudited financial and operational results for the first quarter ended March 31, 2007. The Company had previously announced the declaration of its quarterly cash dividend with respect to the first quarter of 2007 of $0.50 per share payable on May 31, 2007 to stockholders of record on May 21, 2007.

Euroseas to Release Second Quarter 2007 Results

Euroseas Ltd. , an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today it will release its second quarter and six month results for the period ended June 30, 2007, on Thursday, August 23, 2007, before the market open in New York.

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.

Dockwise Announces Q4 and 2007 Results

DOCKWISE Ltd., announced its Q4 and full year 2007 results. Revenue increased 15% to USD 290 million (USD 252 million 2006). Milestone projects executed successfully: for example installation of GX deck offshore Nigeria, transport of 3 jack-up rigs on the same voyage, transport of a 6th generation semi-submersible rig and transport of the Tahiti SPAR, the largest SPAR ever. Adjusted EBITDA* increased 39% to USD 141 million (USD 102 million in 2006) . Adjusted EBITDA margin increased to 45% (40% in 2006). Total CAPEX of USD 908 million including the acquisition of Sealift, OKI and ODL.

DryShips Reports 4Q Results

DryShips Inc announced its unaudited financial and operating results for the fourth quarter and twelve months ended December 31, 2007. million or $5.37 per share. gain on the sale of 1 vessel of $31.5 million or $0.87 per share. gain, Net Income would amount to $163.7 million or $4.50 per share. million. $475.4 million or $13.32 per share. gain on the sale of 11 vessels of $135.0 million or $3.78 per share. this gain, Net Income would amount to $340.4 million or $9.54 per share. million. quarterly cash dividend of $0.20 per common share. to $74.0 million for the fourth quarter ended December 31, 2006. million for the quarter ended December 31, 2006. 2006. $63.8 million in the quarter ended December 31, 2006. of 2006 earning an average TCE rate of $24,466 per day.

TOP Tankers Announces Date of 1Q Results Release

TOP Tankers Inc announced plans to release its first quarter 2007 results on Thursday, May 17, before market opening. That same day, at 11:00 AM EDT, management will host a conference call, which will be broadcast live over the Internet. Those interested in listening to the live webcast may do so by going to the Company's website at http://www.toptankers.com, or by going to http://www.investorcalendar.com. Participants should dial into the call 10-15 minutes before the scheduled time using the following numbers: 877 407 8035 (from the US and Canada) or +1 201 689 8035 (from outside the US and Canada). A live webcast of the conference call will also be accessible via the Internet at http://www.toptankers.com, or by going to http://www.investorcalendar.com.

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. The dividend is payable on August 6, 2007 to shareholders of record at the close of business on August 3, 2007. The additional charter hire earned during the second quarter of 2007 was derived from profit sharing arrangements under the time charters of the company's V-MAX, Panamax and Product vessels.

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. • Operating revenue for the fourth quarter of $460.8 million, up 14% compared with same quarter last year. Operating revenue for the full year of $1,759.4 million, up 12% compared with the previous year. • Operating income for the fourth quarter of $47.0 million, up 7% compared with fourth quarter of last year. Operating income for the full year of $193.0 million, up 16% compared with the previous year. • Net income for the fourth quarter of $36.3 million…

Omega Navigation 4Q and Full Year 2007 Results

Omega Navigation Enterprises, Inc. announced its financial and operational results for the fourth quarter and full year ended December 31, 2007. The company had previously announced the declaration of its quarterly cash dividend with respect to the fourth quarter of 2007 of $0.50 per share payable on March 3, 2008 to stockholders of record on February 21, 2008. Omega Navigation Enterprises, Inc. was incorporated in the Marshall Islands in February 2005. On April 7, 2006, the Company successfully completed its Initial Public Offering of 12,000,000 Class A Common Shares at $17 per share raising a total of $204 million in gross proceeds.

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 $41.8 million compared to the Company's second quarter 2007 guidance range of $30.0 million to $35.0 million. Net income for the second quarter of 2007 was $22.6 million, or $0.85 per diluted share, compared to $20.3 million, or $0.73 per diluted share in the year-ago quarter.

Quintana Maritime Reports 2Q 2007 Results

Quintana Maritime Limited said its operating and financial results for the three months and six months ended June 30, 2007. · Secured almost $700 million in expected net revenues from third quarter 2007 through end of 2010, representing on average approximately 75% of our current fleet capacity expressed in net operating days.

Rowan Announces Record Quarterly Results

For the three months ended September 30, 2007, Rowan Companies, Inc. (NYSE:RDC) generated record net income of $130.8m, or $1.16 per share, compared to $87.0m, or 78 cents per share, in the third quarter of 2006 and $128.1m, or $1.14 per share, in the second quarter of 2007. Revenues were $502.2m in the third quarter of 2007, compared to $417.1m in the third quarter of 2006 and $507.0 million in the second quarter of 2007. The third quarter 2007 results included $1.1m, or 1 cent per share, of gains on asset sales, compared to $2.3m, or 2 cents per share, in the third quarter of 2006 and $14.6m, or 8 cents per share, in the second quarter of 2007.

Wilson, Sons 4Q & 2008 Results

Wilson Sons Limited announced its consolidated results for the Fourth Quarter (4Q08) and Full Year 2008 (FY08). The company, through its subsidiaries, is one of Brazil's largest providers of integrated port and maritime logistics and supply chain solutions. With a business track record of over 170 years, the company has developed an extensive national network and provides a comprehensive set of services related to domestic and international trade, as well as to the oil and gas industry. Its principal operating activities are divided into the following business segments: (i) Port Terminals, (ii) Towage, (iii) Logistics, (iv) Shipping Agency, (v) Offshore, and also into (vi) Non-Segmented Activities. Wilson, Sons' consolidated net revenues improved both in 4Q08 and in FY08.

Conrad Announces 2007 Results and Share Repurchase Program

Conrad Industries, Inc. announced its 2007 results and a new $10 million stock repurchase program. For the year ended December 31, 2007, Conrad achieved net income of $19.2 million and earnings per diluted share of $2.63. The Company’s Annual Report for 2007 is available at ww.pinksheets.com. The Company also announced that its board of directors has authorized the Company to purchase up to $10 million of its common stock. The Company plans to use cash on hand or generated from operations to purchase the stock. Acquisitions may be made from time to time in the open market or in privately negotiated transactions as permitted by securities laws and other legal requirements.

Quintana Reports First Quarter 2007 Results

Quintana Maritime Limited announced its operating and financial results for the three months ended March 31, 2007. For the first quarter of 2007, Quintana reported net income of $12.5 million, or $0.23 per diluted share. This includes a non-cash unrealized swap loss of $2.2 million on the previously disclosed interest-rate swap. Before this loss, net income was $14.7 million, or $0.27 per diluted share, an increase of approximately 17% over $0.23 per diluted share in the first quarter last year. Net revenues for the first quarter were $47.8 million, an increase of approximately 121% over $21.6 million of net revenues in the first quarter of 2006.

PMA Posts Freight and Passenger Records

The Port of Marseilles Authority (PMA) has briefed unions and staff on government plans for the ‘re-launch’ of French ports - as required by a timetable for local consultations at each port before parliament considers the legal framework this spring. PMA director-general Guy Janin outlined the aims and procedure this week at press conferences in Marseilles and Paris detailing the port’s 2007 results, which set new records for general cargo – including containers – and passenger volumes. Janin confirmed that, following a government announcement on January 15, the port had held initial meetings to inform personnel of the broad proposals…

Tsakos Sells Ships

Tsakos Energy Navigation Ltd. (NYSE: TNP) announced the sale of the 1998-built 107,181 dwt Aframax tankers Maria Tsakos and Athens 2004 to an independent Greek-based operator. The Maria Tsakos will be delivered to her new owners on July 11, 2007 resulting in a $31 million capital gain that will be recorded in the third quarter of this year. The Athens 2004 will be delivered in the beginning of the fourth quarter resulting in an additional $31 million capital gain to be recorded at that time. After the repayment of related debt associated with the two vessels, approximately $50 million in total cash will be released. “The Maria Tsakos and Athens 2004, part of TEN’s first generation newbuildings, have served the Company well over the years, gaining the respect of charterers internationally.

German Boxship Collides with Crane at Keelung Port

MV Hansa Meersburg (Current Name). Photo: Leonhardt and Blumberg

A German-flagged container ship Hansa Meersburg ran into a crane while berthing at Keelung Port, Taiwan resulting in the damage of containers and port infrastructure, CNA reported. The 2007-built freighter, operated by German-based Leonhardt and Blumberg hit and damaged a berth crane valued at NT$200 million (US$6.78 million) as it was sailing into the harbor. In addition to the damage sustained by the crane, a pier was also damaged, suffering a hole three meters wide and two meters deep.

Aker Yards Reports Loss; CEO Steps Down

The troubles at Aker Yards now have a number to them, as the company reported a loss for the year and that its CEO has been forced out. Aker Yards ASA reported an EBITDA result of NOK -500 million ($96,000) for the 4Q of 2007. The EBITDA result for 2007 was NOK -16 million ($3m), down from NOK 1 443 ($277m) in 2006. Earnings per share (EPS) were NOK -2.81 for the quarter, and NOK 0.95 for the full year 2007. Fast growth in the very heated environment has, as previously announced, resulted in operational challenges in the quarter, and affected the 2007 results negatively.

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 3,500 workers and 400 contracted suppliers.

Sanchi Collision: A ‘New Bermuda Triangle’?

Photo: NIOC

Seas where Sanchi collision incident has taken place are leading region for maritime accidents. East/South East Asian waters have been identified as the top worldwide hotspot for shipping losses, with 34 ships lost in this region in 2016 alone – 40 percent of all shipping losses globally – according to a report from marine insurer Allianz. Analysis of global shipping losses over the last decade has highlighted East/South East Asian seas as an accident hotspot, with the collision…

Hercules Offshore 4Q and 2008 Results

On Feb. 10, Hercules Offshore, Inc. (NASDAQ:HERO) reported income from continuing operations of $37.4m, or $0.42 per diluted share, on revenues of $313.5m for the fourth quarter 2008, excluding the effects of non-recurring items, compared with income from continuing operations of $32.8m, or $0.37 per diluted share, on revenues of $244.2m for the fourth quarter 2007. Income from continuing operations for the twelve months ended December 31, 2008, was $95.7m, or $1.08 per diluted share, on revenues of $1.1b, excluding the effects of non-recurring items, compared to income from continuing operations of $139m, or $2.33 per diluted share, on revenues of $726.3m for the twelve months ended December 31, 2007, excluding the effects of non-recurring items.

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