Bulk Carrier Cherry Blossom held in South Africa’s Port Elizabeth over Western Sahara claim

Bulk Carrier Cherry Blossom held in South Africa’s Port Elizabeth over Western Sahara claim

A Moroccan phosphate ship has been held in a South African port by a complaint from Western Sahara Polisario movement that it transported cargo unlawfully from the disputed territory, a lawyer and Polisario said on …
May 4, 2017 /  Vessels
Maersk Line reports a 2016 loss of USD 376 million

Maersk Line reports a 2016 loss of USD 376 million

The 2016 loss of USD 376 million is USD 1,679 million lower than the 2015 result (USD 1,303 million) Revenue was USD 20.7 billion, 13% lower than in 2015 (USD 23.7bn) Maersk Line’s average freight rate …
Feb 9, 2017 /  Finance
Ardmore Shipping Corp Announces Financial Results For The Three And Nine Months Ended September 30, 2016

Ardmore Shipping Corp Announces Financial Results For The Three And Nine Months Ended September 30, 2016

Ardmore Shipping Corporation (NYSE: ASC) (Ardmore) Thursday (Nov 3) announced results for the three and nine months ended September 30, 2016. Highlights: Reported a loss from continuing operations of $1.8 …
Nov 3, 2016 /  Finance
Maersk Line reports a third quarter loss of USD 116 million

Maersk Line reports a third quarter loss of USD 116 million

Maersk Line’s average freight rate decreased by 16% year-on-year, but was up 5.5% compared to previous quarter. The Q3 2016 loss of USD 116 million is USD 380 million lower than Q3 2015 (USD 264 …
Nov 3, 2016 /  Finance
Kawasaki Kisen seen in the red as sea shipping tanks

Kawasaki Kisen seen in the red as sea shipping tanks

Japanese marine transporter Kawasaki Kisen Kaisha apparently suffered a group pretax loss of roughly 5 billion yen ($47.8 million) in the April-June period, as a third straight quarter of red ink underscores a grim …
Jul 27, 2016 /  Finance
Standard Club: Best practices for cargo sampling

Standard Club: Best practices for cargo sampling

The Standard P&I Club provides loss prevention advice on how to ensure that a cargo is shipped in apparent good order and condition focusing on sampling which is a vital process as it can provide the shipowner …
Jun 1, 2016 /  Curious
South Korean Shipbuilder STX Offshore Files for Receivership

South Korean Shipbuilder STX Offshore Files for Receivership

Company is country’s first shipbuilder to face possible liquidation in recent years South Korea’s STX Offshore & Shipbuilding Co. has filed for receivership, in further evidence of the challenges …
May 31, 2016 /  Finance
Eagle Bulk Shipping Reports First Quarter 2016 Results

Eagle Bulk Shipping Reports First Quarter 2016 Results

Eagle Bulk Shipping Inc. (Nasdaq: EGLE) yesterday announced its results for the first quarter ended March 31, 2016. First Quarter Highlights: - Net reported loss of $39.3 million, or $1.04 per share, compared to a net …
May 11, 2016 /  Finance
Cheniere post $320 million Q1 loss

Cheniere post $320 million Q1 loss

Cheniere Energy posted a first-quarter net loss of US$320.8 million compared to a $267.7 net loss during the corresponding period in 2015. The Houston-based company reported a $69 million revenue for the quarter, …
May 9, 2016 /  Finance
NOL posts 1Q 2016 net loss of US$105 million amidst deteriorating freight rates environment

NOL posts 1Q 2016 net loss of US$105 million amidst deteriorating freight rates environment

NOL Group Friday reported a 1Q 2016 net loss after tax of US$105 million. 1Q 2016 Core EBIT (Earnings before Interest, Taxes and Non-Recurring Items) was a loss of US$84 million. Core EBITDA (Earnings before …
May 8, 2016 /  Finance