Plans for Another South Australia LNG Import Plant in the Works
A private firm is looking to import liquefied natural gas (LNG) to South Australia starting in 2020, around the same time as two other proposed import projects, looking to fill a supply gap as domestic gas gets sucked into LNG exports.Venice Energy, set up by former BHP Billiton executives, plans to submit a development application to the South Australian government within the next month to park a floating storage and regasification unit (FSRU) in Port Adelaide, Managing Director Kym Winter-Dewhirst said.If regulatory approvals come through by March…
Aurizon in Talks to Buy Debt-saddled Coal Port
Australian coal rail operator Aurizon Holdings said on Monday it was in talks to buy the Wiggins Island Coal Export Terminal (WICET), which urgently needs to restructure $3 billion in debt. A purchase would mark a change in strategy under new Chief Executive Andrew Harding for Australia's largest rail freight operator, which runs nearly 2,700 kms (1,680 miles) of rail lines transporting millions of tonnes of coal a year. A successful deal would also be a relief for mining giant…
Pioneer Marine Sink Deeper into the Red
Pioneer Marine Inc. and its subsidiaries (OSLO-OTC: PNRM) ("Pioneer Marine," or the "Company") a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the first quarter ended March 31, 2016. For the first quarter of 2016 the Company reported a net loss of $13.9 million, or $0.46 basic and diluted per share which includes charges amounting to $8.7 million as a result of the termination of five newbuilding contracts (“newbuilding contract termination agreement”).
Dryships in the Red
DryShips Inc. and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, today announced its unaudited financial and operating results for the fourth quarter ended December 31, 2014. For the fourth quarter of 2014, the Company reported a net loss of $24.0 million, or $0.04 basic and diluted loss per share. Included in the fourth quarter 2014 results is an impairment charge on one drybulk vessel, of $38.1 million, or $0.06 per share.
Topaz Reports Revenue up 7%
Q1 2014 revenue up 7% over Q1 2013 to US$ 89.4 million as a result of the expansion of the core vessel fleet and high vessel utilization. Topaz Energy and Marine has announced the results of its subsidiary Nico Middle East Ltd. (“NMEL”) for the three months ended 31 March 2014 (“the period”). The period has seen continued strong and profitable growth across the Group’s activities with revenues up 7% and EBITDA up 22%. This growth is primarily attributable to new vessels that have been added to the fleet and the improved utilization we have achieved across our core fleet.
Tide Runs Against Dry Bulk Carrier Genco in 2012
Genco Shipping & Trading Limited reports its financial results for the three and twelve months ended December 31, 2012. The net loss attributable to Genco was $144.9 million or $3.47 basic and diluted loss per share for the year ended December 31, 2012, compared to net income attributable to Genco of $25.4 million or $0.72 basic and diluted earnings per share for the year ended December 31, 2011. Voyage revenues decreased to $223.2 million for the year ended December 31, 2012 compared to $388.9 million for the year ended December 31, 2011.
Baltic Trading Limited Q1 2010 Results
Baltic Trading Limited (NYSE: BALT) reported its financial results for the three months ended March 31, 2010. The following financial review discusses the results for the three months ended March 31, 2010. As expected, the company had no vessels in operation during the quarter. The company took delivery of its first two vessels on April 8, 2010 and April 29, 2010, respectively and expects to take delivery of three of the remaining vessels to be acquired by May 15, 2010, and one Capesize newbuilding in October 2010.
Genco Shipping & Trading Q1 2010 Results
Genco Shipping & Trading Limited (NYSE:GNK) reported its financial results for the three months ended March 31, 2010. The following financial review discusses the results for the three months ended March 31, 2010 and March 31, 2009. -- Genco Claudius, a 2010 built Capesize vessel, with Cargill International S.A. -- Genco Augustus, a 2007 built Capesize vessel, with Cargill International S.A. -- Genco Knight, a 1999 built Panamax vessel, with Swissmarine Services S.A. -- Genco Vigour, a 1999 built Panamax vessel, with Global Maritime Investments Ltd.
General Maritime Q1 2010 Results
General Maritime Corporation (NYSE:GMR) reported its financial results for the three months ended March 31, 2010. The company recorded a net loss of $9.1 million or $0.16 basic and $0.16 diluted loss per share for the three months ended March 31, 2010 compared to net income of $18.9 million or $0.35 basic and $0.34 diluted earnings per share for the three months ended March 31, 2009. The decrease in net income was primarily due to a 21% decrease in our fleet TCE compared to the prior year period…