Finance News

 

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…

Globus Maritime Limited Reports Financial Results

May 11, 2011

Globus Maritime Limited (NASDAQ: GLBS), a dry bulk shipping company, reported its unaudited consolidated operating and financial results for the three-month period ended March 31, 2011.The Company also declared a quarterly cash dividend of $0…

Hornbeck Offshore Announces Q1 2011 Results

May 11, 2011

Hornbeck Offshore Services, Inc. (NYSE:HOS) announced today results for the first quarter ended March 31, 2011. Following are highlights for this period and the Company's future outlook: Lack of drilling permits in Company's core geographic market…

Tsakos Energy Navigation Reports Earnings Of $0.20 Per Share

May 11, 2011

Four newbuilding suezmaxes (including two shuttle tankers) chartered for a combined 53 years with minimum total revenues of $720 million Fleet utilization at 99%FIRST QUARTER HIGHLIGHTS* Voyage revenues of $99.2 million* Net income of $9…

BRAEMAR Announces Results for Year February 2011

May 09, 2011

Braemar Shipping Services plc (“Braemar”, “the Company” or “the Group”), a leading international provider of broking, consultancy, technical and other services to the shipping and energy industries, today announces full yearresults for the year ended 28 February 2011…

Aker Solutions Q1 Results 2011

May 06, 2011

6 May 2011 - Aker Solutions' operating revenues in the first quarter of 2011 were NOK 12 billion, and earnings before interest, tax, depreciation and amortisation amounted to NOK 1.8 billion, including profit from asset sales and non-recurring items…

Moore Stephens Calls on HMRC to Consult

May 05, 2011

Leading accountant and shipping adviser, Moore Stephens says companies operating within UK tonnage tax could consider leaving the UK, as a result of HMRC’s decision to unilaterally reinterpret the regime rules.Sue Bill, a tax partner with Moore Stephens…

STX Group’s Plan to Sell 20% Stake in STX OSV

Apr 26, 2011

In response to the various media articles relating to the STX Group’s plan to sell a 20 percent stake in STX OSV Holdings Limited ('STX OSV'), the Board of STX OSV understands after clarification with STX Europe Holding AS (“STX Europe”), that…

Logistics News

Wilson Sons Starts Testing Aerial Drone Deliveries at Brazilian Port

Wilson Sons Starts Testing Aerial Drone Deliveries at Brazilian Port

Canada Invests Over $17M to Modernize Halifax Port Authority's Infrastructure

Canada Invests Over $17M to Modernize Halifax Port Authority's Infrastructure

DP World Marks Record 8.3% Growth in Container Handling for 2024

DP World Marks Record 8.3% Growth in Container Handling for 2024

Lithuanian Port Goes Forward with Quay Reconstruction for Offshore Wind

Lithuanian Port Goes Forward with Quay Reconstruction for Offshore Wind

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