While banks keep lending tight, a massive $5 billion order in China should mark the official turnaround of shipbuilding's fortunes, as private equity in the form of The Carlyle Group and Tiger Group Investments Partner have teamed with Seaspan Corporation…
18th consecutive year of profitability Company declares quarterly dividend of $0.15 payable in April 2011 Total dividends reach $333 million since 2002 NYSE listing 2010 HIGHLIGHTS- Voyage revenues of $408.0 million. - Operating income of $80…
Daewoo Shipbuilding & Marine Engineering aims to secure $11 billion in orders next year, according to a Reuters report. The global news service quoted Sang-tae, chief executive of the South Korean shipbuilder, that the firm took $11,2 billion in orders this year…
Northrop Grumman Corporation (NYSE: NOC) reported that third quarter 2010 earnings from continuing operations increased to $489 million, or $1.64 per diluted share, from $464 million, or $1.45 per diluted share, in the third quarter of 2009…
Stolt-Nielsen S.A. (Oslo Børs: SNI) said its wholly owned subsidiary Stolt Tankers B.V. received a full refund of $84.5 million plus accrued interest, as part of an early termination agreement with SLS Shipbuilding Co. Ltd. (SLS) of South Korea to cancel newbuilding contracts for two 43…
J.F. Lehman & Company completed the sale of Atlantic Marine Holding Company to a subsidiary of BAE Systems, Inc. Atlantic Marine is a provider of vessel maintenance, repair, overhaul and conversion (“MROC”) as well as marine fabrication services to government and commercial maritime customers…
The headline in the Financial Times is enough to raise the hair on the back of our necks: “Growing Global Confidence Helps Risk Appetite.” I hope that this headline, if you saw it, scared you as much as it did me. Although I have some confidence about the future of shipping…
Regardless of today’s economic and financial reality, wealth creation and oil prosperity go hand in hand. While the medium to long term prospects are good, it is a major challenge for the offshore and maritime communities to secure the financing…
Davie Yards announced that it has obtained an order from the Québec Superior Court extending the stay of proceedings ordered by the Court to September 15, 2010, in accordance with the terms of the written order to be issued by the Court, the…
Star Bulk Carriers Corp. (NASDAQ: SBLK) announced its unaudited financial and operating results for the first quarter ended March 31, 2010. Akis Tsirigakis, President and CEO of Star Bulk commented: 'We are pleased that our continued cost…
Tidewater Inc. (NYSE:TDW) announced fourth quarter net earnings for the period ended March 31, 2010, of $56.9 million, or $1.10 per share, on revenues of $260.0 million. For the same quarter last year, net earnings were $109.7 million, or $2…
The specialist for propulsion and power solutions Tognum has completed the first three months of the current financial year in line with expectations and confirms its forecast for the full year. “Despite the modest quarterly revenues as expected…
Hornbeck Offshore Services, Inc. (NYSE: HOS) announced results for the first quarter ended March 31, 2010. First quarter 2010 revenues decreased 21.4% to $86.2 million compared to $109.6 million for the first quarter of 2009 and decreased 2…
Tognum has completed the first three months of the current financial year in line with expectations and confirms its forecast for the full year.“Despite the modest quarterly revenues as expected, we managed to achieve an adjusted EBIT margin of 8…
Dril-Quip, Inc. (NYSE:DRQ) announced net income of $25.7 million, or $0.64 per diluted share for the three months ended March 31, 2010, versus net income of $24.7 million, or $0.63 per diluted share for the first quarter of 2009. The first quarter 2010 results include an after-tax charge of $3…
