GulfMark sees “early signs of encouragement”
July 27, 2016 —Houston headquartered GulfMark Offshore, Inc. has reported results of operations for the three- and six-month periods ended June 30, 2016.
Hamilton, Bermuda, July 28, 2016
THE SECOND QUARTER OF 2016 SHOWS SOLID RESULTS. THE RECENT DELIVERIES OF FOUR JAPANESE-BUILT SECOND HAND SHIPS (COSTING $106M) AND THE PURCHASE OF TWO NEW VESSELS FROM KOREA ($64M CASH DELIVERY PAYMENT IN TOTAL FOR BOTH) TO BE DELIVERED IN THE NEXT SIX MONTHS ARE BEING FINANCED FROM OUR OWN RESOURCES, WITHOUT RAISING NEW EQUITY. THE MAKING OF THIS CASH PAYMENT IN TOTAL OF $170M, WHICH BRINGS THE FLEET TO 30 VESSELS AND ENHANCES OUR EARNINGS POTENTIAL SIGNIFICANTLY, GUIDED US IN SETTING THE DIVIDEND FOR 2Q2016. THE TANKER MARKET IS VOLATILE. A HIGHER DEMAND FOR TANKERS SHOULD RESULT IN HIGHER DIVIDENDS. WE BELIEVE THAT IN THE PRESENT CIRCUMSTANCES THE STRATEGY OF DEPLOYING OUR CASH BOTH TO PAY DIVIDEND AND TO BUY SHIPS AND THEREBY INCREASE OUR DIVIDEND CAPACITY IS IN THE BEST INTERESTS OF THE NAT SHAREHOLDERS. GOING FORWARD, COMPETITIVE DIVIDEND PAYMENTS, A STRONG BALANCE SHEET AND A HIGH LIQUIDITY IN THE STOCK, COMPARED WITH OUR COMPETITORS, CONTINUE TO BE PRIORITIZED OBJECTIVES FOR NAT.
In view of the above, the Board of Nordic American Tankers Limited has declared a cash dividend of $0.25 per share to shareholders of record August 17, 2016. The dividend is expected to be paid on or about August 31, 2016.
The 2Q2016 earnings report is expected to be released Monday August 8, 2016 before NYSE opening.
The halfway point of the 2016 Extreme Sailing Series will bring new challenges for Oman Air as they head to Hamburg in Germany to try to consolidate their position at the top of the table on a compact city centre race course which has become one of the trickiest on the circuit.
This milestone includes the deliveries of lead ships for three separate classes constructed for four different customers, including the U.S. Navy and commercial shipping companies
SAN DIEGO, July 26, 2016 /PRNewswire/ — On Monday, July 25, General Dynamics NASSCO marked its seventh ship delivery in the span of just over a year. The Garden State, an ECO Class tanker built for longtime customer American Petroleum Tankers, was delivered during a special signing ceremony and is one of three classes of ships delivered by the San Diego-based shipyard since June of last year.
(Tuesday 26th July, Puerto Portals) – Azzurra, the 52 SUPER SERIES champions of 2015, delivered their best day of this season so far on the Bay of Palma waters where they won the World Championship title and where they built so much of their season-winning points cushion last year.
The publisher is to be commended for bringing back into print a best seller that was last seen 80 years ago. The author served in destroyers during WWI and therefore had a first hand experience of the subject. This is a very important book that describes the technology, tactics and deployment of the smaller warships that served in great numbers and with great distinction. Highly recommended, a must read book about a hugely important part of WWI naval history.
Box ship scrape is first accident in expanded Panama Canal
July 25, 2016 —Xin Fei Zhou, a COSCO neopanamax containership, became the first commercial ship to have an accident in the expanded Panama Canal when it made contact with the Agua Claras locks on July 22.