ISC Profit Slip in Q2 2014 but Pay Dividend
he Company reported a net loss of $664,000 for the three months ended June 30, 2014. For the comparable three months ended June 30, 2013, the Company reported net income of $1.9 million, which included a non-cash operating gain of $1.8 million. Mr. Niels M. Johnsen, Chairman and Chief Executive Officer, stated, “During the second quarter, our financial and strategic flexibility enabled us to make equity investments in joint ventures owning two new built chemical tankers and two asphalt tankers. Also during the quarter, we were able to secure a multi-year contract for our belt self-unloading coal carrier on the Atlantic coast through the 1st quarter of 2017…
ISC Expects Faltering Q1 2014 Financial Results
International Shipholding Corporation (ISC) provides preliminary guidance for first quarter 2014 results and announces timing of earnings release and conference call. The company says that it expects to report a first quarter net loss, before Preferred Dividends, in the range of $3.3 million to $3.7 million. This result for the quarter is primarily attributable to lower than projected results from supplemental cargoes, repositioning days in the international dry bulk segment and…
ISC Reports Negative Impacts of Sequestration in Q3 2013
International Shipholding Corporation (ISC) reported a net loss of $2.2 million for the three months ended September 30, 2013, which included a $2.0 million reduction from the impact of sequestration on the U.S. Maritime Security Program and $1.6 million charge from the refinancing of various U.S. Flag vessel collateralized loans into one senior $95 million debt facility. Completed a refinancing of its U.S. Flag fleet debt facilities, with a $45 million term loan and increasing its line of credit from $30 million up to $50 million. Mr. Niels M.
ISH Buys Integrated Tug/Barge Unit
International Shipholding Corporation (ISH) has bought the integrated tug/barge unit, 'Coastal 202' and 'Florida Enterprise', from CIT and GE Capital. These two vessels have been operating under a sale and leaseback arrangement and were part of ISH’s purchase of United Ocean Services. Mr. Niels M. International Shipholding Corporation, through its subsidiaries, operates a diversified fleet of U.S. and international flag vessels that provide worldwide and domestic maritime transportation services to commercial and governmental customers primarily under medium to long-term charters and contracts.
International Shipholding Corporation Reports Q1 2011
Mobile, Alabama, April 27, 2011 – International Shipholding Corporation (NYSE: ISH) announced the financial results for the quarter ended March 31, 2011. The Company reported net income of $24.1 million for the three months ended March 31, 2011, which included a gain on the Dry Bulk transaction of $18.7 million. For the comparable three months ended March 31, 2010, the Company reported net income of $10.6 million, which included a gain of $1.4 million on the sale of a Panamax Bulk Carrier.
