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Eagle Bulk Shipping Inc. Reports Net Income of $77.2 Million

Generated Revenues, net of $185.3 millionAchieved TCE(1) of $28,099/day basis and TCE Revenue(1) of $128.9 million Realized net income of $77.2 million, or $5.94 per basic share Adjusted net income(1) of $74.3 million, or $5.72 per adjusted basic share(1) Generated EBITDA(1) of $96.0 million Adjusted EBITDA(1) of $85.1 million Repurchased $10.0 million in aggregate principal …

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Maersk recession pain could yet get more acute

A.P. Moller Maersk is experiencing the dark side of relief in the world’s recovering supply chains. The $38 billion Danish shipping giant made nearly $11 billion of EBITDA in the three months ending September, beating analysts’ expectations, but also warned that a global recession will drive demand for containers down 2% to 4% in 2022, …

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Overseas Shipholding Group Will Deleverage, Saving Annual Payments of $27 Million During 2023

Overseas Shipholding Group, Inc., a leading provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, today reported results for the third quarter 2022. Shipping revenues for the third quarter of 2022 were $123.1 million, an increase of $5.1 million, or 4.3%, from the second quarter of 2022. Compared …

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WFW advises lenders on €29.5m ECA-backed loan for Fratelli Cosulich LNG carrier

Watson Farley & Williams (“WFW”) has advised a consortium of lenders comprising Crédit Agricole Italia S.p.A (agent bank), UniCredit S.p.A., Cassa Depositi e Prestiti (CDP) and Banco BPM S.p.A on a €29.5m loan, backed by Italian ECA SACE, granted to Fratelli Cosulich LNG2 S.r.l. (“Fratelli Cosulich”) to finance 70% of the construction costs of an …

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In focus: ‘Maximum energy with minimum emissions’ to bring us safely to net-zero goals

With increasing concerns about energy security, questions are arising about whether energy transition to clean and renewable sources can provide solid near-future solutions. According to the energy industry, it is not a matter of either-or, but rather and-and, since we currently need all the energy we can get. In a few days, the world will gather in Egypt …

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Semi-submersible rig heading to Namibia to drill for Shell

Northern Ocean’s Deepsea Bollsta semi-submersible drilling rig is on its way to Namibia where it will work for the oil major Shell. Premium content Checking for account. You need javascript to validate your login status. Premium Premium content Premium content Subscribe to continue Become a PREMIUM Subscriber Do not want to miss out on any …

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Ocean Yield snaps up third methanol-ready containership

Norwegian shipowning company Ocean Yield AS has agreed to purchase a 5,500 TEU newbuilding container vessel under construction at HJ Shipbuilding, Korea. As explained, the vessel will be a sister vessel to the two newbuildings announced on 10 June 2022 and 18 July 2022, with a design enabling it to be converted to dual fuel operation …

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Google calls for more restrictive ‘green’ hydrogen rules

US technology giant Google, leading a group of several companies including Spanish utility Iberdrola and the Dutch natural gas firm Eneco, has urged the European Commission (EC) to adopt strict rules on what can be classified as ‘green’ hydrogen. On 2 November, Google, Iberdrola and Eneco, among others, addressed an open letter to the EC …

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Subsea 7 picks UK firm for welding and coating services

UK-headquartered subsea services provider Subsea 7 has entered into a long-term deal with the Bluewater-backed Pipeline Technique (PTL) for the provision of welding and coating services. Subsea 7 announced this strategic collaboration agreement with Pipeline Technique on Thursday, explaining that PTL will provide field joint coating services globally, through its subsidiary Pipeline Induction Heat (PIH), …

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KBR secures work on Australia’s first industrial-scale green hydrogen project

US engineering company KBR and Belgium engineering firm Tractebel, part of ENGIE, have been appointed as the Owners Engineer for the Yuri project, a new renewable hydrogen facility in the Pilbara, Western Australia. Courtesy of KBR The Yuri project is being co-developed by utility company ENGIE and ammonia producer Yara Pilbara Fertilisers. Together, the companies …

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