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Tuesday, January 23, 2018

Record Results News

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…

Kirby Reports Record Results

Houston-based Kirby announced record net income of $22.6 million, or 85 cents per share, on record revenue of $224.9 million for the first quarter ended March 31. That compares with income of $13.3 million, or 52 cents per share, on revenue of $184.4 million for the same period last year. Kirby also declared a two-for-one stock split of its common stock. Stockholders of record on May 10 will receive one additional share of common stock for each share of common stock held on that day. The additional shares will be distributed on May 31. Retired pipeline executive David L. Lemmon has been elected to Kirby Corp.'s board of directors. Lemmon replaces Robert G. Stone, Jr., who passed away on April 18. Lemmon served as president and CEO of Colonial Pipeline Co.

Euronav Announces Record Results

The executive committee of Euronav NV reported its financial results for the three months ended March 31, 2006. The company had net income of $93.5 million (2005: $80.8 million) or $1.78 (2005: $1.92) per share, for the three months ended March 31, 2006. This is the highest result for a first quarter ever. EBITDA for the same period was $141.3 million (2005: $98.7 million). The average daily time charter equivalent rates, or TCE, obtained by the company’s owned fleet in the Tankers International pool was approximately $82,500/day. In the first quarter 2006, Euronav also announced that it signed a contract with Hyundai Heavy Industries Co, Ltd (HHI) of Korea to build two 318,000 dwt Very Large Crude Carriers to be delivered in the first quarter of 2009.

KMG Reports 2005 Record Results

Kerr-McGee Corp. reports net income for the 2005 fourth quarter of $2.2 billion ($18.46 per diluted common share), compared with $133.8 million ($.86 per share) for the 2004 fourth quarter. Fourth-quarter 2005 operating profit from continuing operations was $653.9 million, compared with $276.1 million for the 2004 period. Exploration and production operating profit was $633.8 million, compared with $266.5 million in the 2004 fourth quarter. Higher operating profit in 2005 reflects net pretax gains on property sales of $169.1 million compared with a net loss of $21.8 million in the prior-year quarter. Additionally, higher oil and gas…

Jotun Continues to Grow

Image:  Jotun

Jotun, coating solutions to the global marine fleet,  recorded sales of NOK 10.9 billion and an operating profit of NOK 1.7 billion in tn the first eight months of 2016. To help secure long-term growth, the company continues to pursue investments in new production capacity and product innovation, both in Norway and other key markets. To help secure long-term growth, the company continues to pursue investments in new production capacity and product innovation, both in Norway and other key markets.

Kirby Corp. Announces Record Results

Kirby Corporation reported that for the fourth quarter ended December 31, 2000, net earnings were a record $9,088,000, compared with $3,974,000 for the 1999 fourth quarter. For the 2000 year, net earnings were $34,113,000, up from $21,441,000 in 1999. Joe Pyne, Kirby's President and Chief Executive Officer, said, "The 2000 fourth quarter net earnings of $.38 per share and 2000 year net earnings of $1.39 per share are record results for Kirby. Our EBITDA results of $33,615,000, or $1.39 per share, for the 2000 fourth quarter and $130,132,000, or $5.30 per share, for the 2000 year are also a record. Revenues for the 2000 fourth quarter and year were at record levels as well. This performance reflects the continuing benefits of the successful integration of Kirby and Hollywood Marine.

K-Sea Announces Record Results

K-Sea Transportation Partners L.P. reported record results of operations for its fiscal 2006 first quarter ended September 30, 2005. The Company also announced that its distribution to unitholders in respect of the first quarter will increase by $0.01 to $0.57 per unit, or $2.28 per unit annualized. The distribution will be payable on November 14, 2005 to unitholders of record on November 8, 2005. For the three months ended September 30, 2005, the Company reported operating income of $6.2 million, an increase of $1.7 million, or 37%, compared to $4.5 million of operating income for the three months ended September 30, 2004. The increase resulted from the expansion of the Company's fleet barrel-carrying capacity over the past year and continued strong vessel utilization…

Videotel Launches Flag State Admin System

Videotel launched a new training software program, Videotel webFSA, at IMO STW 44. A sophisticated Flag State Administration Training and Record Management system, Videotel webFSA, provides Member States with the assistance they need to meet the forthcoming IMO requirement for a global quality management system in the implementation and enforcement of Member State obligations and responsibilities relating to maritime transport. Developed in conjunction with the Cayman Islands Shipping Registry…

Continued Success for WW

Continued progress characterized results for Wilh. Wilhelmsen ASA (WW) in the first half of 2005. The group has never delivered such high quarterly figures, including an operating income of $511 million in 2Q 2005 (vs. $452 million in 2Q 2004). WW's net operating profit for the second quarter was $72 million, an improvement of $15 million from the same period of 2004. Profit before tax for the quarter came to $64 million, compared with $51 million for April-June last year. "We are very satisfied with this development," says WW chief executive Ingar Skaug. The first half of 2005 yielded a total operating income of $986 million, compared with $874 million for the same period of last year.

Braemar Shipping Interim Results

Commenting on the results and outlook, Sir Graham Hearne, Chairman, said: “Our strategy remains to position the Group as a leading player in a selective range of marine and shipping services. We believe this will provide the Group with resilience to weather adverse conditions and a platform from which we can take advantage of suitable opportunities. Alan Marsh, Chief Executive, said “Despite the market this is a set of record results for Braemar which gives us confidence that our expectations for the full year out-turn will be met.

Topaz Completes Milestone of Vopak Project

Topaz Energy and Marine Ltd. through its subsidiary Nico International, part of the newly established Topaz Engineering division has successfully completed the first milestone activity of a project for Vopak Horizon Ltd., Fujairah. The project was awarded to Nico by Interbeton (currently being rebranded as BAM International), Abu Dhabi in November last year for the design, fabrication & installation of offshore trestles and pipes. The project is due for completion in December 2009.

Jotun Reports Record Year

record results. operating income totalled NOK NOK 4 619 million. continuing high price of raw materials. recorded by Jotun. are contributing to the pressure on margins. increase on last year's corresponding figure of NOK 468 million. from NOK 464 million in 2004. continue to invest in new and existing production facilities. construction of new production units in China and Indonesia.

UK's Port of Tyne Shortlisted for Global Award

The Port of Tyne has been shortlisted as a finalist for the Lloyd's List Global Awards 2012 in the Port Operator of the Year category. This award recognises the company or port that has maintained the highest standards of operational efficiency and customer service throughout the year. The award is open to any international port that can demonstrate exceptional innovation, improved efficiency, profitability and successful investment in port operations. The Port of Tyne is the only UK based operator; competing against six other international ports and terminals in New Zealand, Russia, Spain and The Netherlands. Andrew Moffat, Port of Tyne Chief Executive Officer, said: “The Lloyd’s List Global Awards are the shipping industry's most acclaimed, credible and well-supported awards.

New Profit Record for Kleven Maritime

2010 was a Gullåren for Kleven Maritime. The Company delivered record results for 2010. Operating profit came to 238.7 million, an increase of 96 million from the record year 2009. The profit before tax was 213.8 million, an increase of 97.3 million from the year before. The country's largest Norwegian-owned shipbuilding group also has good speed control in 2011. The order list is now in 10 new buildings, for a total contract sum of 3.7 billion. CEO Ståle Rasmussen is happy with last year's results, but emphasizes that it is continually worked to increase value creation and profitability.

Hornbeck Offshore Announces 2Q Results

Hornbeck Offshore Services, Inc., announced record results for the second quarter ended June 30, 2006. Second quarter revenues increased 72.0 percent to $70.7mcompared to $41.1m for the second quarter of 2005. Operating income was $32.4m, or 45.8 percent of revenues, for the second quarter of 2006 compared to $13.8m, or 33.6 percent of revenues, for the prior-year quarter. These results were driven by record dayrates in each of the company's business segments and a 45.3 percent increase in the average barrel-carrying capacity of the Hornbeck Offshore tug and tank barge (TTB) fleet. Operating income, as reported, for the second quarter of 2006 includes a $1.4m charge for stock-based compensation expense related to the impact of FAS 123R, which became effective January 1, 2006.

Manitowoc Reports Record Results For 1999

The Manitowoc Company, Inc. reported record financial results for both the fourth quarter and full year ended December 31, 1999. This was the company's fifth year of record financial results and its 17th consecutive quarter of improved year-over-year earnings growth. Net earnings for 1999 increased 30 percent to $66.8 million, or $2.55 per diluted share, from $51.4 million, or $1.97 per diluted share, in 1998. Net sales increased by 16 percent to $805.5 million in 1999 from $694.8 in 1998. Each of the company's three business segments - foodservice equipment, cranes and marine services - reported strong year-over-year net sales and earnings gains.

Topaz Delivers $75M Oil & Gas Project

Photo courtesy Topaz Energy and Marine

Topaz Energy and Marine announced the project delivery of the deck structure of a Mobile Offshore Production Unit and storage (MOPUstor). The MOPUstor deck was constructed by Topaz Fabrication and Construction; part of the Topaz Engineering division under a subcontract from Single Buoy Moorings Inc for its client, Talisman Energy Norge AS. The value of Topaz Engineering’s portion of the work was $75m. Topaz’s scope of work was fabrication and construction of the hull and topsides of the MOPU, project completion took more than two years with the workforce peaking at 1,400 men.

Hapag-Lloyd Orders Four 13,200-TEU Ships

Following a record result in the first nine months of 2010 and its successful refinancing on the capital market, Hapag-Lloyd is again investing in future growth. Hapag-Lloyd ordered four large vessels with a capacity for 13,200 standard containers (TEU) each from the Korean shipbuilding company Hyundai Heavy Industries today. It was also agreed that the six new vessels ordered in the beginning of 2008 should be upgraded to the same capacity. These ten large vessels are scheduled for delivery between mid-2012 and the end of 2013 and comply with all current environmental requirements. The vessels are intended for service on the Far East routes operated jointly with the partners in the Grand Alliance.

CMA CGM Reports Excellent Performance in 2010

The Board of Directors of France-based CMA CGM, the world’s third largest container shipping group, met under the chairmanship of Jacques R. Saadé to review the financial statements for the year ended 31 December 2010. The Group reported revenue of $14.3b for the year, a 36% increase on 2009 that was led by the combined impact of higher volumes carried and improved freight rates. In all, more than nine million TEUs* were carried during the year, up 15% on 2009. With capacity increased by 17.7% and representing 8.6% of worldwide capacity at year-end, CMA CGM has consolidated its leadership in the global container shipping industry. The strong growth in business was accompanied by the sustained deployment of the cost control programmes initiated in 2009…

Lighthouse Fast Ferry Reports Record Results

Lighthouse Fast Ferry, Inc. reported record sales results for the fourth quarter and twelve months ended December 31, 2001. For the year-ended December 31, 2001, total revenue increased 10% to a record $4.4 million from $4.1 million for the prior-year period in 2000. Passenger ticket sales jumped nearly 16% to $3.9 million from $3.4 million in the prior-year period, reflecting increased rider-ship at the company's Highlands, New Jersey site, where total annual rider-ship rose 6% to 297,775 passengers. Immediate demand for the company's latest Keyport, New Jersey service, which commenced on October 15, 2001, also contributed to sales, with a rider-ship of 24,693 passengers at year-end 2001.

Topaz Announces $65M Profit for 2009

Photo courtesy Topaz Energy and Marine

Topaz Energy and Marine announced its audited financial results for 2009. Topaz posted revenue of $448 million, EBITDA of $ 127 million and Net Profit of $ 65 million demonstrating year on year growth of 7%, 14% and 38% respectively. The growth in these difficult times clearly demonstrates a resilience that sets Topaz apart from many of its peers. Topaz Energy and Marine is an oil & gas focused marine services and engineering company with a regional footprint across the Middle East and the Caspian.

Northrop Grumman Reports First Quarter Results

Northrop Grumman Corporation, reported that sales increased 49 percent, earnings from continuing operations increased 17 percent, and segment operating margin increased 44 percent, for the 2003 first quarter compared with the first quarter of 2002. The record results, in large measure, reflect strong contributions by the company's two new segments, Mission Systems and Space Technology; double-digit growth in sales and operating margins at three other segments, Electronic Systems, Ships and Information Technology; and a lower effective tax rate. Northrop Grumman reported income from continuing operations of $174 million, or $0.91 per share, compared with $149 million, or $1.27 per share, for the same period of 2002.

Kirby Corp. Announces Record 3Q Results

Kirby CEO Joe Pyne (Photo: Greg Trauthwein)

Record 2014 third quarter earnings per share of $1.34 compared with $1.21 in the 2013 third quarter, which included a $0.08 benefit due to the reduction of the United earnout liability. Kirby Corporation announced record net earnings attributable to Kirby for the third quarter ended September 30, 2014 of $76.7 million, or $1.34 per share, compared with $69.1 million, or $1.21 per share, for the 2013 third quarter, which included a $0.08 per share benefit due to the reduction of the United earnout liability.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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