The Company recorded net loss of US$27.7-million by Genco in the second quarter of 2012 Extracts from the Genco financial report follow:The financial report showed a loss attributable to Genco for the second quarter of 2012 of $27.7 million…
COSCO reports profits from its ship repair, conversion, & engineering projects cushioned shipbuilding losses.Highlights: Group achieved net profit attributable to equity holders of $27.6m on turnover of $975.3m against the backdrop of a difficult business environment in Q2 2012…
Box Ships Inc, container ship owners & charterers, issues dividend on its first anniversary as a public listed company.Mr. Michael Bodouroglou, Chairman, President and Chief Executive Officer of Box Ships Inc., commented: “This quarter marks our one-year anniversary as a public company…
The US Coast Guard proposes rate adjustments averaging approximately 1.87% for pilotage services on the Great Lakes. Comments on the proposal should be submitted by 1 October. 77 Fed. Reg. 45539 (August 1, 2012). ACTION: Notice of proposed rulemaking…
Mitsui O.S.K. Lines (MOL) records a loss in its recent quarterly financial report.MOL recorded a loss in its business performance over the first quarter, despite making an improvement in its bottom line compared with the same period of the previous fiscal year…
MHI announces outline of FY 2012 first 3-month financial results ended June 30, 2012 (consolidated).Highlights from the financial report follow:Orders received ⇒ Down ¥128.9 billion: Year on Year (YOY) (¥621.3 bn → ¥492.4 bn)Overall, orders declined from a year ago…
Losses widen for oil tankers hauling 2-million barrel crude cargoes on the industry's benchmark routeAccording to Bloomberg, VLCC's on the Saudi Arabia-to-Japan voyage are losing $5,529 a day, according to data accessed by Bloomberg from the Baltic Exchange in London…
First half year 2012 financial results confirm the Italian shipbuilder's positive operating performanceHighlighted in the report were: • Profit from ordinary operations at euro 26 million (16 million at 30/6/11, +62.5%)…
The New South Wales State Government plans to privatise Port Kembla & Port Botany to increase funds for infrastructure projects.Of the $500 million expected to be generated from the Port Kembla lease, $100 million will be spent on infrastructure in the Illawarra…
Danaos Corporation reports (unaudited) Second Quarter and Half Year results for the period ended June 30, 2012.Highlights for the Second Quarter and Half Year Ended June 30, 2012: • Operating revenues of $146.7 million for the three months ended June 30…
UK-based Port Evaluation Management (Port-Evo) propose US$ 1-billion investment to redevelop Mongla Seaport & to operate long-termBritish Secretary of State for Foreign and Commonwealth Affairs and Northern Ireland William Hague made the proposal…
SEACOR Holdings Announces Results for the Second Quarter Ended June 30, 2012. SEACOR Holdings Inc. (NYSE: CKH) announced its results for the second quarter ended June 30, 2012. Net income attributable to SEACOR Holdings Inc. for the quarter ended June 30…
The Inland Waterways Users Board, sponsored by the US Army Corps of Engineers (USACE), will meet on 29 August in St. Louis. Agenda to include status of funding for inland navigation projects and studies and the status of the Inland Waterways Trust Fund…
China's shipping industry grapples with recession caused by waning demand & higher costs, & many small businesses are facing bankruptcy.The Ministry of Transport said that In the first six months, turnover at ports increased 7.2 percent year on year to 4…
Royal Caribbean reports Q2 2012 results and updates 2012 guidanceExtracts from the company's report are as follows:Since the company's April guidance, the strengthening of the U.S. Dollar and decreases in fuel pricing have essentially offset one another…
