Recently Acquired Dockwise Did Well in 2012
Dockwise publish audited annual accounts for 2012, having earlier published an unaudited version. The unaudited 2012 results were first disclosed as part of the publication by Dockwise of the Q4 2012 results on 13 February 2013. As indicated in the position statement of Dockwise regarding the mandatory cash offer by Boskalis for all of the issued and outstanding common shares in the capital of Dockwise (the "Position Statement"), the audited annual accounts 2012 are deemed to be part of the Position Statement in accordance with the Dutch Public Takeover Offers Decree. The audited annual accounts, the Position Statement and the Addendum are available on the Company's website.
MOL (America) Announce Intermodal Transit Performance Results
MOL (America) Inc. announce intermodal transit on-time performance results for April-June 2012. MOL’s overall intermodal transit on-time performance was 88% for April-June 2012 for the three origin ports in Asia to the six inland destinations in the United States being measured. Intermodal Transit On-Time Performance is among the regional key performance indicators (KPI) MOL discloses to customers on www.CountOnMOL.com. MOL performed above the 90% target for seven origin/destination combinations and was within one percent of the target for two other combinations. Performance was primarily impacted by four PCX vessels that arrived a shift or more late and one PSX vessel that arrived two shifts late.
A.P. Møller - Mærsk Q1 Pre-tax Profit Plunge
A.P. Møller - Mærsk Q1 2012 reports plunge in pre-tax profit, sees slightly lower 2012 result Denmark-based conglomerate A.P. Moeller-Maersk A/S reported a plunge in first-quarter pre-tax profit to 8.48 billion Danish kroner from 15.03 billion Danish kroner last year, reports RTT News. In US Dollar terms, pre-tax profit amounted to $1.50 billion, a 46% drop from the prior year's $2.75 billion. However, profit for A.P. Moller - Maersk's share was 6.15 billion Danish kroner, higher than 6.08 billion Danish kroner a year earlier. Quarterly revenue totaled 81.25 billion Danish kroner, up 3% from 79.11 billion Danish kroner a year before. For 2012, the A.P. Moller - Maersk Group expects a result slightly lower than the level reported in 2011.
MOL (America) Inc. Announces March KPI Results
Lombard, IL – MOL (America) Inc. has announced the March, 2012, results of its Regional Key Performance Indicators (KPI) in the following categories: operations, customer service, and electronic data interchange (EDI). The results are available on a monthly basis. A set of goals has been established for each of these KPI in an effort to offer industry-leading transparency to customers and to showcase MOL’s strength as a carrier which provides high quality service. Global KPI are reported on a quarterly, annual, and semi-annual basis, depending on the category. The results of MOL’s Global and Regional KPI are published and shared with customers in greater detail at www.CountOnMOL.com.
Tankship Owners Frontline Take Cautious Approach
Net income attributable to the Company of $7.2 million and earnings per share of $0.09 for the first quarter of 2012. Frontline sold the double hull Suezmax tanker, Front Alfa, and recognized a loss of $2.2 million. They terminated the charter party for the single hull VLCC, Titan Orion (ex-Front Duke), and recognized a gain of $9.4 million. They purchased $10.0 million notional value of the convertible bonds due 2015 for $5.4 million and recognized a gain of $4.6 million. Frontline will not pay a dividend for the first quarter of 2012. The Board sees a challenging supply / demand situation for the tanker market where the combined VLCC and Suezmax fleet between 2004 and 2012 increased by 98 percent without being backed by a similar increase in demand.
American Shipyard Publishes Q1 2012 Results
For the quarter ended March 31, 2012, Conrad achieved net income of $3.2 million and earnings per diluted share of $0.52 compared to net income of $3.7 million and earnings per diluted share of $0.58 during the first quarter of 2011. The Company's more detailed financial reports are available here. Conrad's backlog was $70.8 million at March 31, 2012 compared to $47.1 million at December 31, 2011 and $112.3 million at March 31, 2011. Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel and aluminum products for both the commercial and government markets.
Tognum Tones Down Financial Forecast for Full Year 2012
Tognum adjusts its forecast at end of the first half-year 2012, anticipating growth in revenues in the lower single-digits. The company now anticipates growth in revenues in the lower single-digit percentage range and thus remains within the current forecast corridor. The adjusted return on sales is expected to be around ten per cent by the end of the year. Tognum had previously assumed it would achieve an adjusted return on sales of over ten per cent. “The macro-economic prospects for the financial year deteriorated significantly in the course of the second quarter. We nevertheless expect to generate higher revenues in the second half of the year than in the first half,” says Joachim Coers, CEO of Tognum AG.
Russia's Gazprom to Step Up Arctic Drilling
Under increasing pressure from competitors & the authorities, the Russian gas major is stepping up exploration & drilling in Arctic waters. A total of four wells were drilled and 3000 square km of 3D seismic mapping was conducted in the years 2011-2012 resulting in an increase in offshore reserves with more than 200 million tons of oil equivalents. The exploration was conducted in the waters surrounding the Yamal Peninsula, the Tazov Bay, as well as in the west Kamchatka and Sakhalin parts of the Okhotsk Sea, the 'Barents Observer' reports, citing a Gazprom press release.
Cruise LIne Sees European Financial Woes Impact
Since the company's April guidance, the strengthening of the U.S. Dollar and decreases in fuel pricing have essentially offset one another. Business demand remains solid in the Caribbean and Asia, but larger than anticipated discounting has been required in Europe which has resulted in a one percentage point decline to the midpoint of the company's Constant-Currency Net Yield expectations for the year. ◦ Net loss was ($3.6 million), or ($0.02) per share, versus net income of $93.5 million, or $0.43 per share, in 2011. ◦ Net Yields increased 4.5% on a Constant-Currency basis (+1.8% As-Reported). "The steady drumbeat of negative news emanating out of Europe is certainly having an impact," said Richard D. Fain, chairman and chief executive officer.
Dockwise Ltd :Q3 2012
Operationally sound first quarter for combined Group. Dockwise Ltd. has published results for the three month period ended 30 September 2012. As from 1 July 2012, results of Fairstar Heavy Transport N.V. are fully consolidated within the financial statements for Dockwise Ltd. • Cash flow generated from operating activities of USD 49 million (USD 10 million in Q2 2012). • Four vessels deployed on Gorgon project. • The ING syndicate loan facility has been renegotiated. • USD 302 million for execution in 2014 and beyond (USD 268 million at end Q3 2011 for execution in 2013 and beyond). André Goedée, Chief Executive Officer Dockwise, commented: "The third quarter has seen good operational progress.
Despite Lower Chinese Iron Ore Imports Sino-Global Turns Profit
China mainland shipping agency provider Sino-Global announce increased revenue in fiscal year 2012 results. Sino-Global Shipping America, Ltd. a leading, non-state-owned provider of shipping agency services operating primarily in China, report that Fiscal 2012 was a difficult year for the Company as the economic slowdown in China had a significant impact on the volume of iron ore imported into China and, consequently, on the Company's results. By aggressive marketing activities that resulted in new customers that load iron ore in overseas ports, Sino-Global was able to manage a small increase in revenues. The number of ships served increased from 421 in fiscal 2011 to 477 in fiscal 2012.
Greece's Safe Bulkers Weather Challenging Financial Conditions
Bulk carrier owners & charterers Safe Bulkers, Inc. reports results for the third quarter and the first nine months of 2012, pays reduced dividend. Net revenue for the third quarter of 2012 increased by 10.1% to $46.8 million from $42.5 million during the same period in 2011. Net income for the third quarter of 2012 increased by 4.5% to $20.7 million from $19.8 million during the same period in 2011. Adjusted net income1 for the third quarter of 2012 decreased by 12.0% to $22.8 million from $25.9 million during the same period in 2011. Net revenue for the nine-months period ended September 30, 2012 increased by 9.5% to $138.0 million from $126.0 million during the same period in 2011.
Ulstein Reports Improved 2013 Results
Ulstein Group reported it delivered a good result for 2013 with an operating income of NOK 2.3 billion compared to 2012’s result of NOK 2.27 billion. Similarly, Ulstein’s operating profits improved in 2013 to NOK 317.8 million from NOK 228 million in 2012. The group’s operating result before tax was NOK 360.8 million, compared to NOK 211.4 million in 2012. Ulstein said it currently has more than 40 vessels in order, of which six to be built at its own yard, while the rest are being built at several shipyards worldwide. At the end of 2013, Ulstein Group had an order reserve of NOK 2.6 billion.
Another Bulkship Owner Reports 2012 Profits Imploded
Greece's Diana Shipping reports fourth quarter and year ended 31, December, 2012 results. Diana Shipping Inc. a shipping company specializing in the ownership and operation of dry bulk vessels, reported net income of US$ 5.0-million for the fourth quarter of 2012, compared to net income of US$ 20.2-million reported in the fourth quarter of 2011. Time charter revenues were $49.4 million for the fourth quarter of 2012, compared to $57.4 million for the same period of 2011, mainly due to reduced time charter rates.
Baltic Trading Ltd. Announces Q1 2012 Financial Results
Baltic Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Baltic Trading Limited's current fleet consists of two Capesize, four Supramax and three Handysize vessels with an aggregate carrying capacity of approximately 672,000 dwt. The following financial review discusses the results for the three months ended March 31, 2012 and March 31, 2011. • Reached agreement to extend the Baltic Bear with Swissmarine Services S.A. • Cash position of $5.2 million as of March 31, 2012. The Company recorded a net loss for the first quarter of 2012 of $4.5 million, or $0.20 basic and diluted loss per share.
Caterpillar Reports Good Q3 2012, But ...
Caterpillar Inc. announces strong improvement in its Third-Quarter 2012 results, but outlook not so bright. Caterpillar Inc. announce third-quarter 2012 sales and revenues of $16.445 billion, a 5-percent increase from third-quarter 2011 sales and revenues of $15.716 billion. “Last quarter and then again a month ago at MINExpo, we discussed economic and geopolitical headwinds facing the world, and we are certainly continuing to see the impact of those uncertainties in our business,” said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman. "We now expect 2012 sales and revenues to be about $66 billion and profit in a range of $9.00 to $9.25 per share.
Ferguson Reports Profits Increase for 2012
The Ferguson Group, global specialists in the provision of offshore DNV 2.7-1/EN12079 containers and accommodation solutions, has posted its 2012 results, which show continuing growth, with worldwide sales increasing by over 10% to £57.6m and pre tax profits up to £16.2m from £15.6m in 2011. Commenting on the results, Richard Smith, Group Finance Director, said: “2012 was another successful year for the Ferguson Group, which saw the company increase profits during a year of continuing investment in our global infrastructure and asset base.
KVH Industries Report Q1 Results, VSAT Business Growth
"We had a great quarter in our satellite business," said Martin Kits van Heyningen, KVH's chief executive officer. "Revenue from the mini-VSAT business grew 61% compared to the first quarter last year, and unit sales increased 120%. Our mini-VSAT Broadband airtime revenue for the quarter was close to $7 million, and the related gross margin increased to approximately 28% from only 4% one year ago. "We were very pleased with our progress in winning a leadership position in the growing maritime broadband market," continued Mr. Kits van Heyningen. "In several customer-run, head-to-head competitions with many other maritime services, KVH mini-VSAT Broadband has been selected for large fleet-wide roll outs.
Rolls-Royce Confirm 2013 Financial Forecasts
Rolls-Royce state that current trading is in line with expectations, and that their guidance for the full year is confirmed. Since the preliminary 2012 results in February, Rolls-Royce say they have won a US$1.6bn order from International Airlines Group (IAG) for Trent XWB engines, with long-term TotalCare® service support, to power 18 Airbus A350-1000 aircraft; they have also signed multiple contracts to provide and service military transport engines for the US Air Force and US Marine Corps; in addition construction has started on the state-of-the-art Core Manufacturing Facility in Derby that will produce reactor cores for the UK's current and future Submarines Programme.
Safe Bulkers Reports 4Q, 12-Month 2012 Results; Declares Dividend
Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three and twelve month period ended December 31, 2012. The Company’s Board of Directors also declared a quarterly dividend of $0.05 per share for the fourth quarter of 2012. Net revenue for the fourth quarter of 2012 increased by 8% to $46.4 million from $42.9 million, during the same period in 2011. Net income for the fourth quarter of 2012 increased by 36% to $32.2 million from $23.6 million, during the same period in 2011. Adjusted net income1 for the fourth quarter of 2012 decreased by 15% to $20.5 million from $24.0 million, during the same period in 2011.
Cruise Industry Adopts Passenger Bill of Rights
Cruise Lines International Association (CLIA) has announced that its Board of Directors approved the adoption of a Cruise Industry Passenger Bill of Rights detailing CLIA members' commitment to the safety, comfort and care of guests in a number of important areas. The CEOs of CLIA North American member cruise lines are each immediately verifying in writing that they have adopted the Passenger Bill of Rights, which is a condition of membership in the Association. CLIA also will submit the Passenger Bill of Rights to the International Maritime Organization (IMO), requesting formal global recognition and applicability under the IMO's authority over the international maritime industry. The Passenger Bill of Rights will be effective immediately for U.S.
DNV KEMA Energy Sets Up Beijing HQ
DNV KEMA Energy & Sustainability is setting up its Asia Pacific Headquarters for services towards the transmission and cleaner energy sectors in Beijing. “DNV is committed to help China develop a safer, more efficient and reliable energy supply system with improved fossil and renewable power generation to support China’s growth ambitions and development towards a low carbon economy,” said DNV’s Group Chief Executive Officer Henrik O. Madsen at a press conference in Beijing. The establishment of this second clean technology headquarters for Asia Pacific follows DNV’s acquisition of 74.3% of KEMA shares in February 2012, resulting in a new company called DNV KEMA Energy & Sustainability.
Report Ranks Australia First in Cruise Growth
A new report now ranks the Australian cruise industry number one in the world for market growth and penetration, with latest industry figures revealing a record 833,348 Australians took a cruise last year. Launched in Sydney, the 2013 Cruise Industry Source Market Report shows Australian cruise passenger numbers soared 20 percent in 2013, more than double the growth rate of any other major cruise market. With the equivalent of 3.6 percent of the Australian population taking a cruise in 2013…