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Wednesday, April 25, 2018

Maritime Reporting News

Globus Maritime Reports Loss in Q3

Photo: Globus Maritime Limited

Globus Maritime reported loss in Q3 results amid depressed dry bulk rates though it remains cautiously optimistic on China’s economy and expects demand for dry bulk commodities to remain strong. Total comprehensive loss for the third quarter of the year 2015 amounted to $2.5 million or $0.24 basic loss per share based on 10,264,256 weighted average number of shares, compared to total comprehensive income of $0.2 million for the same period last year or $0.02 basic earnings per share based on 10,236,134 weighted average number of shares.

Kongsberg Maritime Report Strong Growth in Q2 2013

CEO Walter Ovam: Photo courtesy of Kongsberg Maritime

Kongsberg is reporting operating revenues in the second quarter of 2013 of MNOK 4 097, up 4.2 per cent year-on-year. EBITDA came to MNOK 513 in Q2, compared with MNOK 525 in Q2 2012. At mid-year, operating revenues totalled MNOK 8 130, translating into growth of 4.7 per cent from mid-year 2012. The expansion in H1 has been driven by Kongsberg Maritime, which posted growth of 13.9 per cent compared with H1 2012, and is continuing to report a significant influx of new orders. Altogether during the quarter, Kongsberg Maritime signed new orders valued at MNOK 2 431.

Excel Maritime Reports Grounding and Re-floating

Excel Maritime Carriers reported that the vessel M/V Angela Star, has run aground while entering the of , . At the time of the grounding, the vessel was under towage and had two pilots on board. The vessel has been re-floated without outside assistance and has been safely moored at a discharge berth. No engine or steering gear failure, injuries or pollution have been reported. Following discharging, the vessel will sail to a yard for permanent repairs. The vessel is currently estimated to remain off hire for approximately 45 days with an estimated total cost from the incident to the Company, including loss of hire, expected to be $1.4 million or $0.03 per share, which will be realized in the third quarter of this year. The M/V Angela Star is a 73,798 dwt bulk carrier built in 1998 in .

Salama Fikira Receive German Flag State Approval

Photo: Salama Fikira

The Federal Office of Economics and Export Control (BAFA) have approved Salama Fikira to operate on German flagged vessels. As an African-based service provider of international services, Salama Fikira said it is very proud to have been granted this approval to support vessels registered in Germany. Conrad Thorpe OBE, CEO of the Salama Fikira Group has welcomed this achievement by saying, "As the maritime security industry matures, the standards and regulations continue to be driven higher every year.

New Digital Product : Luxembourg

Regs4ships announced the launch of our 19th flag to its Digital Maritime Regulations (DMR) product. From July 18, 2014 Regs4ships will be able to offer a Luxembourg regulations product that contains all relevant flag state documentation along with digital copies of SOLAS, MARPOL and STCW, ILO Conventions and EU legislation. This new product will enable customers to have access to Luxembourg Legislation, Circulars, MLC Documents and Forms as well as the following additional documents: Cluster Maritime Reports and VIMSAS Final Report.

China Probes Executives of CSIC, COSCO

China's first built 300,000 dwt VLCC. Pic by China Shipbuilding Industry Corporation

China Shipbuilding Industry Corporation (CSIC) and China Ocean Shipping Company (Cosco) are being probed in China’s national anti-corruption scheme, according to a report in the Reuters. The Central Commission for Discipline Inspection (CCDI) has not named any company executives as targets for individual inspection. CCDI is the highest internal-control institution of the Communist Party of China (CPC). The watchdog did not name any executives as targets for individual inspection in its statement…

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 250 industry experts across all continents. Singapore was also ranked first in the report's 2015 and 2012 surveys. Singapore was ranked number one in the following three categories: Shipping, Ports and Logistics, and Attractiveness and Competitiveness.

Comsat Teams With NOAA and Coast Guard For Maritime Reporting

Comsat Mobile Communications(CMC), a unit of Lockheed Martin Global Telecommunications, has teamed with the United States Coast Guard and National Oceanic and Atmospheric Administration (NOAA) to offer free Amver/SEAS (formerly Automated Mutual-assistance VEssel Rescue / Shipboard Environmental-data Acquisition Systems) messaging to mariners that use COMSAT-C satellite messaging service. CMC recently distributed more than 2,000 free packages of Amver/SEAS software to vessels and maritime shipping companies. This software combines Amver capabilities with NOAA volunteer observing ships weather reporting. The software, which uses a message format developed by COMSAT, enables ships to send compressed data via Inmarsat-C terminals using COMSAT-C service.

Navios Maritime Reports $2 mln income for Q1 2014

Courtesy Navios Holdings

Navios Maritime Holdings Inc. ("Navios Holdings" or "the Company") (NYSE: NM), a global, vertically integrated seaborne shipping and logistics company, today reported financial results for the quarter ended March 31, 2014. Angeliki Frangou, Chairman and Chief Executive Officer, stated, "We are pleased with our results for the first quarter of 2014, for which we reported net income of $2.0 million and EBITDA of $59.8 million. Angeliki Frangou continued, "By establishing and developing in house technical and commercial management…

Navios Maritime Reports Better Revenues for 2Q & 1H, 2014

Angeliki Frangou, Chairman of the Board and Chief Executive Officer

Navios Maritime Holdings Inc. a global, vertically integrated seaborne shipping and logistics company, today reported financial results for the second quarter and six months ended June 30, 2014. Angeliki Frangou, Chairman and Chief Executive Officer, stated, "We are pleased with our results for the second quarter of 2014, for which we reported revenue of $145.4 million, a 16% increase and Adjusted EBITDA of $51.4 million, a 33% increase compared to the same period last year. commercial management.

Rickmers Maritime Reports Significant Loss

Photo: Rickmers Trust Management Pte. Ltd

Rickmers Maritime, which is affiliated to the Hamburg-based Rickmers Group,  slumped to a $129.2 million loss in 2015 from a $16 million profit a year earlier on increased write offs on the value of its ships and depressed container charter rates. The Container ship operator's charter revenue from its fleet of 16 container ships shrank by 17 percent to $108.5 million from $130.3 million last time. The bulk of the full-year loss was in the fourth quarter when the deficit widened to $129.6 million from $16 million last time, due mainly to an impairment charge of $128.4 million.

Seanergy Maritime Reports Q4 Results

Photo: Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp reports financial results for the fourth quarter and twelve months ended Dec. 31, 2016. For the fourth quarter and twelve months ended December 31, 2016, the Company generated net revenues of $10.9 and $34.7 million respectively. As of December 31, 2016 total stockholders’ equity was $30.8 million and cash and restricted cash was $15.9 million. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “During 2016, the dry bulk market went through the worst crisis of the last 25 years.

Globus Maritime Reports Q1 Loss

Image: Globus Maritime Limited

Greece-based dry bulk shiping company, Globus Maritime has been pushed back into the black by miserable dry bulk rates, but the company has said that it is awaiting market improvements within 2015. George Karageorgiou, President, Chief Executive Officer and Chief Financial Officer of Globus Maritime Limited, stated:  â€śThe first quarter of 2015 was yet another challenging period for our company as our results were negatively affected by the continuation of a depressed dry bulk market with the Baltic Dry Index (BDI) reaching the lowest point in 30 years.

Rickmers Maritime Report Fair Sailing in 2013

Chairman (L) & CEO: Image Rickmers

In a letter to unitholders introducing its 2013 financial results, the chairman and the CEO of Rickmers Maritime, state that its commitment to long-term, fixed-rate container ship time charter agreements has provided insulation from the continued pressure on time charter rates, and 2013 saw an excellent operational performance, with a 99.7% vessel utilisation rate. "The decisions taken on the Rights Issue, the deleveraging of the business, and the multicurrency medium term note (MTN) programme ensure that the Trust enters the new year on a stronger footing.

Excel Maritime Reports 3Q Results

Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, announced today its financial and operating results for the third quarter and nine month period ended September 30, 2007 and declared a quarterly dividend of $0.20 per share for the third quarter 2007. Total revenues for the third quarter 2007 amounted to $43.2m as compared to $32.7m for the same period in 2006. Net income for the third quarter 2007 amounted to $19.2m versus $9.9m for the same period in 2006. Earnings per share for the third quarter 2007, calculated on 19,978,365 shares were $0.96 compared to $0.50 in the third quarter of 2006.

Bulk Ship Owner Follows Trend, Reports 2012 Profit Plunge

Excel's Bulk Carrier 'Mairaki': Photo courtesy of Excel Maritime

For the year ended December 31, 2012, Excel reported voyage revenues of $242.0 million compared to voyage revenues of $353.4 million for the year ended December 31, 2011. The Company is currently in advanced restructuring discussions with its lenders under its syndicated credit facility, dated as of April 14, 2008 (the “Syndicate Lenders”), which include amended amortization schedules and extension of the facility’s maturity. While such discussions continue, the Syndicate Lenders…

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.

Seanergy Maritime Reports Q1 Results, Acquires Vessel

Photo: Seanergy Maritime

For the quarter ended March 31, 2017, Seanergy Maritime Holdings Corp generated net revenues of $13.3 million, a 90% increase versus the same period 2016. As of March 31, 2017, stockholders’ equity was $26.7 million and cash and cash equivalents, including restricted cash was $6.9 million. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “In March 2017, pursuant to our prudent fleet expansion plan, we agreed to acquire another modern Capesize vessel.

Kongsberg reports Record-high new orders in Q1 2014

Kongsberg Maritime

KONGSBERG reports Q1 operating revenues of MNOK 3 941 (MNOK 4 033) and EBITDA of MNOK 446 (MNOK 500), resulting in an EBITDA margin of 11.3 per cent (12.4 per cent). New orders were strong in both the maritime and defence segments, totalling MNOK 8 565 (MNOK 3 885) in Q1 and bringing the Group's backlog of orders to the highest level since 2009. Kongsberg Maritime (KM) had a very strong quarter, with sales growth of 17.8 per cent year-on-year (Y/Y), and a very good influx of new orders.

Latest Global Shipbuilding Orders

The focus this week being on the Ultramax and Handysize sectors. It was reported this week that that d’Amico Ireland Ltd have placed an order for four firm 64,000 DWT Ultramax at Yangfan, with delivery of all vessels in 2016 and pricing in the region USD 25 Mill. Also in China, Clarkson Hellas understands that Cyprus owners FrontMarine have placed an order for four firm 58,500 DWT Supramax at New Times. Pricing for these vessels is understood to be in the high USD 25 Mill, with delivery in 2015. At Tsuneishi’s Cebu facility in the Philippines, it was reported that Uni-Asia Shipping have contracted two firm 58,000 DWT Supramax. Although pricing for this deal was undisclosed, delivery of both vessel is understood to be due in 2015.

Less than a Year to go to the FAL Directive Deadline

Courtesy of DP World London Gateway

The FAL Directive under which European Member States are mandated to adopt a Maritime Single Window system is less than a year away; by June 1 2015 all shipping companies, operators and port authorities must be using the Single Window for reporting. To mark the occasion, Inlecom Systems Ltd. (Inlecom), the transport and logistics research and innovation company, is offering to pilot its Intelligent Ship Reporting Gateway free of charge to ship owners, ship operators and port authorities.

Jensen Debuts New Tractor Tug Design

BayDelta (Photo: Jensen Maritime)

Crowley Maritime Corp.’s Seattle-based naval architecture and engineering firm, Jensen Maritime, reports it has designed a new tractor tug for Vessel Chartering LLC that features some of the first Tier IV engines meeting higher federal air emissions standards among U.S. tugboats. The multipurpose tractor tug, engineered to support ship escorts, assists and towing, was jointly developed by Vessel Chartering LLC and Jensen and is being built by JT Marine of Vancouver, Wash. The tug is planned for delivery in the second quarter of 2017 to Vessel Chartering LLC.…

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