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Crowley Solutions has received a multi-year award from the U.S. Army 409th Contracting Support Brigade-Theater Contracting Command to provide transportation of personnel and cargo and procurement of material handling equipment (MHE) under the Third Party Logistics Europe Wide Movement (3PLEWM) contract. Under terms of the May 4 award, Crowley will provide third party logistics (3PL)… Read More
GREENWICH, Conn.–(BUSINESS WIRE)–Diamond S Shipping Inc. (NYSE: DSSI) (“Diamond S”, or the “Company”), one of the largest publicly listed owners and operators of crude oil and product tankers, today announced results for the first quarter of 2020. Highlights for the First Quarter and Recent Events — Net income attributable to Diamond S of $45.0 million,… Read More
Royal Caribbean Cruises Ltd. (NYSE: RCL) estimates it is burning through cash in the range of approximately $250 million to $275 million per month during the present suspension of cruise operations, it said in a business update released today. “These are unprecedented times for all of us,” said Chairman and CEO Richard D. Fain.“Travel restrictions… Read More
GROTON, Conn. and BOCA RATON, Fla., May 4, 2020 /PRNewswire/ — ThayerMahan Inc. (“ThayerMahan”), a leading maritime technology company providing autonomous marine sensing solutions, announced that it closed on $10 million of new financing from AE Industrial Partners Structured Solutions I, LP (“AEI Structured Solutions”), an affiliate of AE Industrial Partners, LP (“AEI”), a private… Read More
New York City headquartered International Seaways, Inc. (NYSE: INSW), one of the world’s largest tanker operators, reported net income for the first quarter of $33.0 million, compared to a net income of $10.9 million in the first quarter of 2019. Net income for the quarter reflects the impact of a $2.8 million gain on sale… Read More
ROME — As CEO of Italy’s state-controlled Fincantieri since 2002, Giuseppe Bono, has built cruise, merchant and naval vessels, including the FREMM frigate, for the Italian navy. Last week the type was picked by the U.S. sea service for its newest frigate, the FFG(X), in a deal worth $5.58 billion if options for nine vessels… Read More
The following Engineer General Officer Assignments have been announced by the General Officer Management Office. Congratulations to all on these upcoming assignments: MG William Graham, Jr., DCG, I Corps, Joint Base Lewis-McChord to USACE-HQ to serve as the DCG for Civil & Emergency Operations MG David Hill, DCG, United States Army Central to serve as… Read More
Here are the major comments, made by Great Lakes CEO Lasse Petterson and CFO Mark Marinko on their earnings call report this week, and at the annual meeting of shareholders: GLDD has incurred expenses from its Covid 19 safety program, but not material to its financial results “Outlook moving forward “ US Federal Govt has… Read More
Oceaneering board has approved voluntary base salary reductions of the executive management and other members of senior management. Effective 1 May, the company’s CEO Roderick A. Larson agreed to base salary reduction of 15 per cent. Base salaries for executive level, including the executive leadership and senior vice presidents, will be reduced by 10 per… Read More
Despite taking a one-time tax benefit of $50.8 million from the CARES (Coronavirus Aid, Relief, and Economic Security) Act barge giant Kirby Corporation (NYSE: KEX) reported a net loss of $248.5 for the first quarter ended March 31, 2020, compared with earnings of $44.3 million for the 2019 first quarter. Excluding one-time items in the… Read More
First quarter net income from continuing operations of $34.0 million First quarter adjusted EBITDA from continuing operations of $61.4 million Cash position of $207.5 million at March 31, 2020 OAK BROOK, Ill., May 05, 2020 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (Nasdaq:GLDD), the largest provider of dredging services in the United States, today reported… Read More
In letters to the Chairmen and Ranking Members of the House Committee on Transportation and Infrastructure and the Senate Committee on Commerce, Science, and Transportation, Commissioners Carl W. Bentzel and Louis E. Sola urged Congressional leaders to consider a means to help alleviate and bridge the financial gaps that could jeopardize continued healthy operation of… Read More
May 1, 2020 2:45 PM ET|About: Helmerich & Payne, Inc. (HP)|By: Carl Surran, SA News Editor Helmerich & Payne (HP -13.2%) says it has laid off 2,800 workers across the U.S. and decommissioned 37 rigs, the result of the record oil bust caused by the Saudi-Russian price war and the coronavirus pandemic. The company started… Read More
American Commercial Barge Line Holding Corp., as successor to American Commercial Lines Inc., today announced that it has successfully completed its recapitalization and emerged from Chapter 11. ACBL says it is moving forward as an inland barge transportation leader and continuing to provide customers with safe, reliable and competitive solutions. It says that with $200… Read More
Orion Group (ORN +17.5%) reported Q1 contract revenue growth of 16.4% Y/Y to $166.6M, reflecting increased project execution in the marine segment. Q1 Gross profit margin was 11.9%, as compared to 6.3% a year ago. Reported Q1 operating income of $4.4M, compared to operating loss of $6.2M last year. Adj. EBITDA was $12.22M (+294.5% Y/Y)… Read More