Finance News

 

Horizon Lines Reduces Debt in Q4

Jan 18, 2010

Horizon Lines, Inc. (NYSE:HRZ) announced that it reduced funded debt by $38.1m during the fourth quarter and completed its fiscal year with $28m less in funded debt than a year ago.The company achieved stronger-than-projected free cash flow during the fourth quarter ended December 20…

WQIS Holds Covered, No Premium Increase

Jan 11, 2010

The United States Coast Guard announced that effective January 23, 2010, they will be increasing fines and other civil monetary penalties to account for inflation in accordance with the Federal Civil Penalties Inflation Adjustment Act of 1990…

Asian Shipping Stocks Poised for Gains

Jan 07, 2010

According to a Jan. 6 report from MarketWatch, as freight rates continue to recover and with demand for shipping expected to climb, shares of Asian shippers and shipbuilders are starting the year out trading broadly higher. Investors appeared to agree…

CMA CGM Financial Restructuring

Dec 24, 2009

CMA CGM announced that an agreement was reached with its financial partners leading to the allowance of a 500 million dollar credit line, payable to the Group in January 2010.   This important step will enable the Group to pursue the current…

Omega Navigation Q3 2009 Results

Dec 22, 2009

For the quarter ended September 30, 2009, Omega Navigation reported total revenues of $14.3 million and Net Income of $1.9 million, or $0.12 per basic share, excluding losses on interest rate derivative instruments and incentive compensation grants expense…

MOL Completes Settlement, 13th Unsecured Bonds

Dec 22, 2009

Mitsui O.S.K. Lines, Ltd. (MOL) announced that the company determined the terms and conditions for the issuance of its 13th series of unsecured bonds (with inter-bond pari passu clause) on December 11, 2009, and completed the issuance and payment on December 17…

Topaz Secures $42M SCB Financing

Dec 22, 2009

Topaz Energy and Marine announced that it had raised $42m from Standard Chartered Bank, Dubai in support of its fleet expansion plans, taking its total financing raised in 2009 to $150m.Topaz has contracted over $150m in bank finance in…

Strong 2010 Forecast for A&P After Buyout

Dec 22, 2009

A&P Group, a UK commercial ship conversion and repair company now headquartered in Cardiff, moves into 2010 with a strong order book for projects ranging from defence to sustainable energy. A&P was taken over last July by the Cardiff-based Bailey Group…

Iron Ore Price Surges to New Annual High

Dec 21, 2009

The Steel Index (TSI) daily iron ore reference price hit its highest level in 12 months on Dec. 18, reaching $107.4 per dry metric tonne. This reference price, for 62% Fe content fines CFRFO China port, represents an 82% increase since March…

Omega Navigation Release of Q3 Results

Dec 18, 2009

Omega Navigation Enterprises, Inc. (NASDAQ: ONAV) (SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced that it will release its results for the third quarter ended September 30, 2009, after the close of the market on Friday…

DryShips Pricing of Convertible Senior Notes

Nov 23, 2009

DryShips Inc. (NASDAQ: DRYS) a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced the pricing of its previously announced public offering of convertible senior notes…

CMA CGM: Significant Recovery in Operations

Nov 19, 2009

Operating profit for the CMA CGM Group is expected to return to the breakeven point in December 2009, ahead of the company’s cautious forecasts in September 2009.  The savings plan applied throughout all segments of the group, combined with increasingly firm volumes and rates…

North P&I Club Sets Premium Rise of 5%

Nov 17, 2009

Shipowner directors of the ‘A’ rated, 100 million GT North of England P&I club have decided on a 5% general premium increase for protection and indemnity (P&I) cover in 2010/11, reflecting the club’s continuing financial resilience. According…

Star Bulk Carriers Declares Dividend

Nov 16, 2009

Star Bulk Carriers Corp. (NASDAQ: SBLK), announced that its Board of Directors declared a cash dividend of $0.05 per outstanding share of the company's common stock for the three months ending September 30, 2009. The dividend is payable on or about December 4th…

Euroseas Nine Months, Quarter Ended Report

Nov 16, 2009

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 three and nine month periods ended September 30…

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Maintenance Insights: Davits

Maintenance Insights: Davits

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