Horizon Lines, Inc. (NYSE:HRZ) reported results for its fiscal third quarter ended September 20, 2009. On a GAAP basis, net income totaled $8.4 million, or $0.27 per diluted share, on revenue of $308.0 million. This compares with net income of $11…
The global economy has shown some signs of recovery this past quarter. The Chinese economy is now widely expected to grow beyond 8% this year. Housing construction in the US rose in August to the highest level in nine months. Europe appears to be on track to exit the recession in the third quarter…
• Sales Increase 4 Percent to $8.73 Billion- GAAP EPS from Continuing Operations Increase to $1.52• Pension-adjusted EPS Increase 22 Percent to $1.672009E GAAP EPS Guidance Raised to $5.00 to $5.15 from $4.65 to $4.90• Cash from…
Sullivan & Cromwell Partners reported on the October 16 decision from the U.S. Court of Appeals for the Second Circuit which overrules the controversial 2002 decision in Winter Storm Shipping, Ltd v. TPI. Winter Storm Shipping, Ltd v. TPI dealt…
DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced that it has signed agreements with Nord LB and West LB on waiver terms for $116m and $67m respectively of our outstanding debt…
The Board of Directors of Ryder System, Inc. (NYSE: R) declared a regular quarterly cash dividend of $0.25 per share of common stock, to be paid on December 11, 2009, to shareholders of record on November 16, 2009. This is Ryder's 133rd consecutive…
In Bangalore, offshore oilfield services firm Great Offshore Ltd has run into fresh trouble after Axis Bank Ltd walked out of a deal to lend Rs350 crore to the Mumbai-based firm for funding the purchase of an oil drilling rig, currently under construction at Bharati Shipyard Ltd…
Bavaria Yachtbau GmbH announced that Anchorage Advisors, L.L.C. and Oaktree Capital Management ), who collectively control approximately 95 percent of Bavaria's $1,403m debt facilities, have signed a binding agreement to restructure the company's balance sheet…
Jotun expects the difficult global economy to continue to have a greater impact. When compared with the record level of 2008, the figures in the first eight months of 2009 are still satisfactory. In litres and kilos the group sold one per cent less paint than it did for the same period last year…
Tsakos Energy Navigation Limited (TEN) (NYSE:TNP) announced that its Board of Directors has declared the company’s initial cash dividend for the fiscal year 2009 of $0.30 per common share, payable October 29, 2009 to stockholders of record on October 22…
OSG America, L.P. (OSG America, NYSE: OSP) reported that Overseas Shipholding Group, Inc. (OSG; NYSE: OSG), which owns a 77.1% interest in OSG America, announced that it has increased the price per unit that it will offer to pay for all of the…
GHL Acquisition Corp. (NYX: GHQ, GHQ.WS and GHQ.U) announced that its stockholders have voted to approve its acquisition of Iridium Holdings LLC. The stockholders of GHL Acquisition also approved all of the other proposals which came before the special meeting of the stockholders…
Support services company VT Group plc announced that it has signed a legally binding agreement with BAE Systems plc on the disposal of its 45 percent shareholding in BVT Surface Fleet Limited, the shipbuilding and naval support joint venture between BAE and VT…
“Liquidity has come back to some extent,” said Oliver Ebner, Senior Manager, Project and Structured Finance for the National Bank of Abu Dhabi. “However, shipping with its long tenors, falls right into the banks’ funding mismatch of mainly short term deposits versus long term loans…
Omega Navigation Enterprises, Inc. (NASDAQ: ONAV) (SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced its financial and operational results for the quarter ended June 30, 2009. For the quarter ended June 30…
