Finance News

 

IHC Merwede Expands Banking Facilities

Jun 06, 2011

IHC Merwede has recently increased its underwriting capacity by more than 50 percent to nearly $2.2 billion. Of this amount, over $1.3 billion has been committed. The financial agreement has been forged between IHC Merwede and an international banking consortium made up of five banks…

BMT Achieves Strong Financial Results

May 31, 2011

BMT Group Ltd, the international design, engineering and risk management consultancy, announced today that it has achieved strong financial results, despite a difficult year for the global economy and the maritime industry in particular.  A…

Good Results For Ulstein

May 27, 2011

Ulstein Group did well in 2010 with NOK 2.4 billion in operating income and an operating profit of NOK 354 million.”We have a solid organisation of competent employees with a strong focus on delivery precision. Through good project management…

New Profit Record for Kleven Maritime

May 25, 2011

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…

North P&I Club Reserve Advances 30%

May 25, 2011

Directors of North of England P&I club confirm that the ‘A' rated club emerged substantially stronger from the annual renewal in February 2011, with an underwriting surplus and investment income boosting its free reserve by 30% to US$ 312 million…

Euroseas Reports Results for Q1

May 20, 2011

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period ended March 31…

Seanergy Maritime Holdings Reports Q1 Results

May 19, 2011

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP; SHIP.W) announced today its operating results for the first quarter ended March 31, 2011.Financial Highlights:First Quarter 2011* Net Revenues of $25.2 million* EBITDA of $12.9 million* Net Loss of $1…

SFL Sells Vessel, Terminates Charter

May 18, 2011

Ship Finance International Limited (NYSE:SFL) ('Ship Finance' or the 'Company'), today announced that it has agreed to sell the 20-year old combination carrier Front Breaker to an unrelated third party and has simultaneously agreed to terminate…

UK P&I Club Capital Reaches Record High

May 18, 2011

Latest Review of the Year shows enhanced financial strength of UK ClubIn its Review of the Year 2011, published this week, the UK Club posted total assets of $1.6 billion.    Dino Caroussis, Chairman of the UK P&I Club, commented:“We…

Omega Navigation Enters Loan Amendment

May 17, 2011

Athens, Greece, May 17, 2011 - Omega Navigation Enterprises, Inc. (NASDAQ:ONAV), a leading provider of Global Marine Transportation services specializing in product tankers, announces that it has reached an agreement with its lenders to amend…

NOL Group Reports $10M Q1 Net Loss

May 13, 2011

NOL Group, the Singapore-based container shipping and logistics company, today reported a first quarter 2011 net loss of US$10 million compared to a net loss of US$98 million in the same period last year.NOL said first quarter 2011 revenue was US$2…

Dryships Inc. Reports Financial And Operating Results

May 13, 2011

DryShips Inc. (NASDAQ: DRYS), or the Company, a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., of off-shore contract drilling oil services,…

STX Europe 1Q 2011 - Improvements Continuing

May 12, 2011

Highlights: -  EBITDA of NOK 424 million in Q1 2011 compared with NOK 88 million in Q1  2010.-  Profit before tax of NOK 334 million for Q1 2011 (Q1 2010: NOK -151 million).-  Orderbook situation:    •  Order intake of NOK 1 708 million in Q1 2010 (Q1 2010: NOK 2 808 million)…

Wilhelmsen Holding Q1 2011 Results

May 12, 2011

Wilh. Wilhelmsen Holding ASA (WWH) delivered a substantial increase in operating profit year over year backed by a rebound in its shipping activities.  WWH posted an operating profit of USD 57.7 million for the first quarter of 2011, up 31% from USD 44…

Danish Shipowners: On Growth track in Wake of Economic Crisis

May 11, 2011

Denmark has retained its position as one of the world's leading maritime nations, despite the economic crisis. In terms of operated tonnage, Denmark is today the fifth largest maritime nation in the world. In all, Danish shipping companies transport some 10% of the world trade…

Logistics News

Pilot Planning Implicated in Tanker Contact with Jetty

Pilot Planning Implicated in Tanker Contact with Jetty

Sempra Signs Contract with Bechtel to Build Port Arthur LNG Phase 2

Sempra Signs Contract with Bechtel to Build Port Arthur LNG Phase 2

Texas Tanker Bottleneck Grows on Slow Freeport LNG Restart

Texas Tanker Bottleneck Grows on Slow Freeport LNG Restart

China's Commodity Import Trend Driven by Prices, Not Economy

China's Commodity Import Trend Driven by Prices, Not Economy

Subscribe for Maritime Logistics Professional E‑News

WestJet Airlines cancels flights expecting union strike
Germany holds up passage of new EU sanctions bundle on Russia
Argentina's TGS pitches $500-million Vaca Muerta gas pipeline growth