TORM Updates Fleet Status
Denmark shipping company that owns and operates product tankers and bulk carriers TORM exercised two options for the construction of two LR1 newbuildings for a total commitment of USD 74m and with expected delivery in 2019 through the first quarter of 2020. In connection with the two newbuildings, TORM has secured commitment from ABN AMRO for attractive vessel financing of up to USD 50m, subject to documentation. As of 31 December 2017, TORM had available liquidity of USD 405m, consisting of USD 134m in cash and USD 271m in undrawn credit facilities excluding the ABN AMRO financing.
Hapag-Lloyd: Shipping Demand Up, More Mergers in 2018
German shipping group Hapag-Lloyd sees demand for transport growing 4 percent in 2018 and expects more shipping firms to merge in the year, the chief executive said. CEO Chief Executive Rolf Habben Jansen also said Hapag-Lloyd, which merged with its Arab peer UASC, could achieve 85 to 90 percent of targeted annual savings from the deal of $435 million this year and 100 percent from 2019. More savings could be made in future, he told reporters in Hamburg, where he reiterated guidance for rising full-year 2017 earnings before interest, tax, depreciation and amortisation (EBITDA) and for EBIT.
Commodore Holdings Reports 14% Earnings Increase
Commodore Holdings, Ltd. reported a 14 percent increase in earnings for its fiscal year ending Sept. 30, 1999. Earnings for full year 1999 were $4,606,000, as compared to $4,023,170 in full year 1998. The line went public in July of 1996. Earnings per share for full year 1999 are $.62 per share on a basic basis, and $.52 per share on a diluted basis. This compares to $.64 per share basic and $.54 per share diluted in full year 1998. The company's weighted average number of common stock outstanding - diluted - was 9,292,000 for full year 1999 as compared to 7,923,000 for full year 1998. This increase was primarily due to the higher average stock price for the company's common stock in full year 1999…
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. â€¢ 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. â€¢ 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. â€¢ Net income for the fourth quarter of $36.3 million…
Aegean Profitable in 2013 Despite Bunker Market Challenges
Ship bunker suppliers Aegean Marine Petroleum Network release financial and operating results for the fourth quarter ended December 31st, 2013, registering a third consecutive profitable year. Recorded sales volumes of 2,384,376 metric tons in Q4 2013 and 9,941,061 for the full year. Recorded gross profit of $75.0 million in Q4 2013 and $286.0 million for the full year. Recorded operating income of $14.5 million for the quarter and $48.8 million for the full year. Recorded net…
Finland's Wartsila Sticks to 2016 Outlook
Finnish ship engine and power plant maker Wartsila reported weaker-than-expected quarterly profit and order intake on Wednesday. Wartsila cited tight competition in the energy markets and overcapacity of ships. However, the company repeated its full-year profitability outlook, surprising analysts. Second-quarter adjusted earnings before interest and tax (EBIT) was 122 million euros ($134.4 million) versus forecast of 138 million euros in Reuters poll. Wartsila expects 2016 net sales to increase by 0-5 percent and profitability to be 12.5-13.0 percent.
Diamond Offshore Reports 4Q Results
Deepwater drilling company Diamond Offshore announced fourth quarter and full-year earnings. Results were solid, with revenues and earnings showing big increases on both a quarterly and an annual basis. Compared to the fourth quarter of 2005, revenues rose 57 percent and earnings per share rose 106 percent. Full year figures demonstrated similarly gaudy growth, as revenues rose 68 percent and earnings per share were up an astronomical 168 percent. Source: The Motley Crew
General Maritime Corp. Announces 4Q Results
General Maritime Corporation announced that it will hold a conference call to discuss the Company's results for the fourth quarter and full year of 2006 on Thursday, February 22, 2006. The Company will issue financial results for the fourth quarter and full year ended December 31, 2006 on Wednesday, February 21, 2007 after the close of market trading.
Matson to Announce Q4, 2014 Results
Matson, Inc. will release its financial results for the Fourth Quarter and Full Year 2014 on Tuesday, February 24, 2015. Matthew Cox, President and Chief Executive Officer, and Joel Wine, Senior Vice President and Chief Financial Officer, will discuss Matson's fourth quarter and full year 2014 results and provide a business outlook for 2015 during a conference call scheduled for 4:30 p.m. EST/1:30 p.m. PST/11:30 a.m. HST.
NOL Nets 4Q US$77 mln loss
NOL Group today reported a 4Q 2015 net loss of US$77 million, an improvement of US$8 million over 4Q 2014. The Group posted a Core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss of US$65 million in the quarter. Its Core EBITDA remained positive at US$39 million. On a full year basis, NOL posted a net profit of US$707 million. Excluding a one-time US$888 million gain on the sale of its logistics unit, NOL incurred a full year net loss of US$181 million, an improvement of 30% over last year. NOL’s full year core EBIT loss reduced 5% year-on-year to US$72 million.
Lloyd's Register To Announce Full Year Results
Lloyd’s Register, an independent technical organization that works to improve its clients’ quality, safety, environmental and business performance, will announce full year results for the year to June 2001 on Thursday, December 13, 2001.
Shell Updates 2013 Reults
Royal Dutch Shell plc has updated its expected 2013 results. Fourth quarter 2013 figures, which are expected to be published on January 30, 2014 , are expected to be significantly lower than recent levels of profitability, considering current oil and gas prices and the downstream oil products industry environment. Shell’s fourth quarter 2013 earnings on a current cost of supplies (CCS) basis excluding identified items are expected to be approximately $2.9 billion and were impacted by weak industry conditions in downstream oil products, higher exploration expenses and lower upstream volumes.
Royal Caribbean Q3 Results
Royal Caribbean Cruises Ltd. (NYSE:RCL) announced earnings for the third quarter of 2009 and provided guidance for the fourth quarter and full year. • Third quarter 2009 net income was $230.4 million, or $1.07 per share, compared to net income of $411.9 million, or $1.92 per share in 2008. • The results were better than the company's most recent guidance of $0.95 to $1.00 per share, driven primarily by the strength of close-in bookings. • Net Yields for the third quarter decreased 16.5% versus 2008, somewhat better than the company's previous guidance of down approximately 18%. • Net Cruise Costs per APCD ("NCC") for the third quarter decreased 10.0% versus 2008. NCC, excluding bunker for the third quarter declined 3.8% versus 2008.
Manitowoc Reports 4Q Results
The Manitowoc Company, Inc. reported increased revenues and strong cash flow for the fourth quarter and full year ended December 31, 2002. Net sales for the fourth quarter were $400.4 million, increasing 47 percent from $271.8 million in the fourth quarter last year. Including special items, the company reported a net loss for the quarter of $25.1 million, or a loss of $0.94 per diluted share. Excluding special items, earnings were $5.3 million, or $0.20 per diluted share, compared with $8.6 million, or $0.35 per diluted share, in the fourth quarter of 2001. Full-year net sales increased 34 percent to $1.41 billion from $1.05 billion in 2001, primarily as a result of the Grove and Potain acquisitions.
Matson Raises Fourth Quarter Outlook
Matson, Inc. said it holds a higher operating income outlook for the fourth quarter 2014, citing higher than expected freight rates and volumes as well as declining bunker fuel prices leading to gains. The company also made preliminary comments regarding its outlook for 2015, stating it anticipates flat to higher income for the coming year. Matson said it expects fourth quarter 2014 ocean transportation operating income to be approximately $45 million primarily driven by higher than expected freight rates in its China service and continued rate and volume growth in Hawaii and Guam.
Carnival's Earnings Up 40%
Carnival Corporation reported a 40 percent increase in its results for the full fiscal year ended November 30. Strong operational execution delivered $0.25 per share higher earnings than the mid-point of the company’s full year 2015 December guidance, despite a $0.10 drag from the net impact of currency and fuel prices. Carnival Corporation & plc announced adjusted net income for the full year 2015 of $2.1 billion, or $2.70 diluted EPS, compared to $1.5 billion, or $1.93 diluted EPS, for the prior year. Full year 2015 U.S.
CXIPY Revenue Hits $999M
Coflexip Stena Offshore today reported net income of EUR17.1 million, or $0.85 per share ($0.42 per ADS), for the fourth quarter of 2000 and net income of EUR88.6 million excluding non-recurring items, or $4.40 per share ($2.20 per ADS), for the year ended December 31, 2000. This compares with net income of EUR30.0 million, or $1.62 per share ($0.81 per ADS), for the fourth quarter of 1999 and net income of EUR89.6 million, or $4.96 per share ($2.48 per ADS), for the year ended December 31, 1999. Excluding the non-recurring costs of the decommissioning of the FlexService 1 vessel for EUR5 million after tax, the recurring net income for the quarter would have come to EUR22.1 million in the fourth quarter of 2000.
GlobalSantaFe Reports 4Q and Full Year Results
Houston-based worldwide drilling contractor GlobalSantaFe Corporation reported net income for the quarter ended Dec. 31, 2001, of $11.7 million, or $0.07 per diluted share, on revenues of $384 million, as compared to net income of $40.9 million, or $0.34 per diluted share, on revenues of $332 million for the same quarter in 2000. For the year ended Dec. 31, 2001, the company reported net income of $198.8 million, or $1.50 per diluted share, on revenues of $1.3 billion. This compares to net income of $113.9 million, or $0.95 per diluted share, on revenues of $1.0 billion for the year ended Dec. 31, 2000. Net income for the fourth quarter…
Grupo TMM Reports 4Q, Full-Year 2005 Results
Grupo TMM, S.A. reported earnings of $0.41 per share for the fourth quarter of 2005 compared to a loss of $1.62 per share a year ago, and earnings of $3.02 per share for the full year of 2005 compared to a loss of $1.80 per share in the same period of last year. TMM reported the following results for the fourth quarter: Revenue of $88.3 million, up 30.2 percent from $67.8 million the previous year; Operating income of $2.8 million, up from an operating loss of $0.1 million a year ago; Operating margin of 3.2 percent, up 3.3 percentage points from the previous year; Net income of $23.6 million compared to a net loss after discontinuing operations of $92.3 million the previous year.
Lamprell's Revenue Falls 65 pct, Cuts FY Forecast
Oil rig builder Lamprell Plc reported a 64.7 percent fall in revenue in the first half of the year and cut its full-year forecast, hurt by lower activity levels across the industry. The company said it expected revenue for 2017 to be in the range of $370 million to $390 million, as it saw continuing low levels of walk-in work. Lamprell had forecast full-year revenue to be in the lower half of the $400 million-$500 million range in March. Lamprell, which runs three rig building yards in the UAE, said revenue fell to $159.2 million in the six months ended June 30 from $451.3 million a year ago.
Hornbeck Offshore Q1 Profit Up
Hornbeck Offshore Services Inc., posted higher quarterly earnings, but missed market expectations, even as it reaffirmed its full-year earnings outlook, Reuters reported. Hornbeck, earned $23.1m, or 86 cents a share, compared with $17.5m, or 67 cents a share, a year ago. Revenue rose 43 percent to $97.5 million.Effective dayrates for the 10 conventional vessels for the first quarter fell sequentially $1,400 to $4,900, the company said in a statement. Quarterly effective dayrate for its new generation vessels rose 11 percent to $19,359, while that of tug and tank barges fell about 2 percent to $16,315. Effective dayrate represents the average dayrate multiplied by the utilization rate for the respective period.
COSCO 2013 Net Profit Falls 71%
Chinese shipbuilder COSCO Corp (Singapore) Ltd on Monday reported a 71 percent fall in full-year 2013 net profit, due to lower profit contributions from ship building and marine engineering segments. COSCO Corp, a subsidiary of state-owned maritime industry giant China Ocean Shipping (Group) Co, said its full-year net profit stood at S$30.6 million ($24.14 million), below the Thomson Reuters SmartEstimate of S$43.78 million. The company did not state its fourth-quarter results. In the first nine months of the year, its net profit slumped 68 percent to S$26 million. The shipbuilder said its order book was at $7.8 billion, up from $7.2 billion a quarter earlier. ($1 = 1.2676 Singapore dollars) (Reporting by Rujun Shen; Editing by Matt Driskill)
Many 1Q Orders for South Korean Shipbuilders
South Korean shipbuilders racked up large overseas orders in the first quarter, keeping them on course to far exceed yearly targets, Korea Times reported. Hyundai Heavy Industries, the world's largest shipbuilder, clinched orders worth $2.3 billion in the January-March period, compared with its full-year target of $7.4 billion. Its two affiliates - Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries - won a combined $2.75 billion worth of orders in the first quarter. The three shipbuilders aim to garner orders worth $12.5 billion for all of 2006. Daewoo Shipbuilding & Marine Engineering, posted orders worth $4.5 billion in the first quarter, or 45 percent of its yearly target of $10 billion. Samsung Heavy Industries Co.