Finance News

 

TEN Semi-Annual Dividend

Mar 15, 2010

Tsakos Energy Navigation Limited (TEN) (NYSE:TNP) announced that its Board of Directors has declared the company’s semi-annual dividend of $0.30 per share payable April 29 2010 with a record date of April 23 2010 and an ex-dividend date of April 21 2010…

TOP Ships Q4 & FY2009 Results

Mar 15, 2010

TOP Ships Inc. (NASDAQ: TOPS) announced its financial results for the fourth quarter and the fiscal year ended December 31, 2009. For the fourth quarter of 2009, the company reported: --  A net loss of $35.9 million or $1.20 per share. The…

Crude Carries Pricing, Initial Public Offering

Mar 15, 2010

Crude Carriers Corp. announced that it has priced its initial public offering of 13,500,000 common shares at $19 per share. The underwriters have an option to purchase up to an additional 2,025,000 common shares to cover overallotments.Crude Carriers Corp…

Jotun Reports Record Results

Mar 11, 2010

Jotun reported an operating profit of NOK 1.1 billion in 2009 as compared with NOK 0.9 billion for the previous year. Operating income increased from NOK 10.4 to NOK 11.2 billion. In litres and kilos, Jotun sold two per cent more paint than it did in 2008…

Seanergy Maritime Q4 & Year End Results

Mar 10, 2010

Seanergy Maritime Holdings Corp. announced its operating results for the fourth quarter and the year ended December 31, 2009. Dale Ploughman, the Company's Chief Executive Officer, stated: 'Despite the difficult market conditions we are pleased to report strong results for 2009…

Global Ship Lease Reports Q4 2009 Results

Mar 05, 2010

Global Ship Lease, Inc. (NYSE:GSL)(NYSE:GSL.U)(NYSE:GSL.WS), a containership charter owner, announced its unaudited results for the three months ended December 31, 2009.Fourth Quarter and Full Year 2009 Highlights:- Generated $16.5 million of cash in the fourth quarter of 2009 up 29% on $12…

OSG’s Q4 Results & Improving Outlook

Mar 05, 2010

Overseas Shipholding Group’s Q4 2009 results were aided by an unexpected tax credit. OSG reported a loss of $0.59 excluding one-time items versus our ($1.02) forecast and the Street’s ($1.25) forecast. However a $30.5 million tax credit for 2009 against 2004 earnings led to the earnings beat…

Hercules Offshore Q4 & Full Year 2009 Results

Mar 03, 2010

Hercules Offshore, Inc. (NASDAQ:HERO) reported a loss from continuing operations of $26.9 million, or $0.23 per diluted share, on revenues of $176.4 million for the fourth quarter ended December 31, 2009, versus a loss from continuing operations of $1…

Dril-Quip Q4 & Year End Results

Mar 02, 2010

Dril-Quip, Inc. (NYSE:DRQ) announced net income of $28.7 million, or $0.72 per diluted share for the three months ended December 31, 2009, versus net income of $25.0 million, or $0.64 per diluted share for the fourth quarter of 2008. Total revenues increased to $141…

Euroseas Q4 & Year End Report

Mar 02, 2010

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 its results for the fourth quarter of 2009 and year ended December 31…

Hearing on FY11 budget: USCG, MARAD, FMC

Mar 01, 2010

The Subcommittee on Coast Guard and Maritime Transportation of the House Committee on Transportation and Infrastructure conducted a hearing on the FY 2011 Budget for the Coast Guard, the Maritime Administration, and the Federal Maritime Commission…

Excel Maritime Q4 & Year End Results

Feb 25, 2010

Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and a leading international provider of worldwide seaborne transportation services for dry bulk cargoes, announced its operating and financial results for the fourth quarter and year ended December 31…

Hornbeck Offshore Exchange Offer

Feb 25, 2010

Hornbeck Offshore Services, Inc. (NYSE:HOS) announced that it has successfully completed its offer to exchange $250m aggregate principal amount of its outstanding 8% Series A Senior Notes due 2017 (CUSIPs440543 AF 3 and U44070 AC 1), which were…

Chemoil Q4 & FY2009 Report

Feb 25, 2010

SGX Mainboard-listed Chemoil (SGX-ST: CHEL.SI) reported a net profit attributable to equity holders of $11.5 million for the year ended December 31, 2009 (FY2009) and a net profit attributable to equity holders of $2.9 million for the fourth quarter of 2009 (4Q2009)…

Boskalis Launches Public Offer for Smit

Feb 24, 2010

Boskalis Holding B.V., a wholly owned subsidiary of Boskalis and Smit announced that the Boskalis is making a public cash offer for all the issued and outstanding ordinary shares with a nominal value of $3.11 each in the capital of Smit.

Logistics News

GAC to Acquire Quadrant Pacific’s Ship Agency Business

GAC to Acquire Quadrant Pacific’s Ship Agency Business

US East Coast Port Union Strike Threat to Test Shippers' Nerves

US East Coast Port Union Strike Threat to Test Shippers' Nerves

Brazil's Container Port Operator Seeks to Avert 'Congestion' Surcharge

Brazil's Container Port Operator Seeks to Avert 'Congestion' Surcharge

Xeneta: US Importers Caught in a Vicious Circle

Xeneta: US Importers Caught in a Vicious Circle

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