• 2019 May 24 16:28

    Teekay Tankers reports 1Q 2019 results

    Teekay Tankers Ltd. on May 23 reported GAAP net income of $12.4 million, or $0.05 per share, and adjusted net income(1) of $14.6 million, or $0.05 per share, in the first quarter of 2019 (excluding items listed in Appendix A to this release) and Total Adjusted EBITDA(1) of $63.4 million for the three-month period ended March 31, 2019.

    In May 2019, Teekay Tankers completed two additional financing initiatives, which increased the Company’s liquidity position by approximately $40 million.

    In the first quarter of 2019, the Company made certain changes to its non-GAAP financial measures to more closely align with internal management reporting and annual reporting filed with the U.S. Securities and Exchange Commission (SEC) under Form 20-F. Total Cash Flow from Vessel Operations (CFVO) and CFVO of Equity-Accounted for Investment are replaced with Total Adjusted EBITDA and Adjusted EBITDA from Equity-Accounted Vessel, respectively. Please refer to “Definitions and Non-GAAP Financial Measures” in this release for definitions of these non-GAAP financial measures and information about the changes made.

    CEO Commentary
    “Average crude tanker spot rates moderately increased during the first quarter of 2019, which resulted in another profitable quarter and slightly improved results over the prior quarter,” commented Kevin Mackay, Teekay Tankers’ President and Chief Executive Officer. “However, spot tanker rates declined towards the latter half of the first quarter, and the market faces a number of seasonal and other short-term headwinds, which are expected to reduce our earnings during the second quarter of 2019. We believe these factors are temporary in nature and expect a significant firming in the tanker market from the second half of 2019 due to positive underlying oil demand, an expected increase in U.S. crude oil exports, higher OPEC production, lower tanker fleet growth, and the positive impacts of IMO 2020.”

    Mr. Mackay added, “With a stronger liquidity position, market-leading position in our vessel sectors and significant operating leverage, we believe we are well-positioned to benefit from a tanker market recovery in the second half of 2019 and into 2020.”




2019 November 22

18:26 CMA CGM announces GRR from Asia to South Africa
18:06 CMA CGM announces FAK rates from Asia to Red Sea
17:51 Another stage of quay modernisation completed at the Port of Gdansk
17:35 RINA signs an agreement with VRMedia to use Kiber system
17:24 RF Transport Ministry counts on 'regulatory guillotine’ to cancel overlapping and obsolete requirements
17:05 Royal IHC builds an integrated 550t reel lay system for Shanghai Salvage
16:35 Damen Oskarshamnsvarvet signs EPC contract with Swedish Coastguard
16:05 APM Terminals introduces industry-leading application monitoring solution
15:42 Igor Belousov, rescue ship of RF Navy's Pacific Fleet, to participate in Russian-Vietnamese exercise
15:40 Damen Road Ferry 6819 E3 launched at Damen Shipyards Galati
15:18 ESPO wins GREEN4SEA – EUROPORT Initiative Award for EcoPorts’ environmental standard
14:49 Moscow Basin IWW carried 1.4 million people and 26 million tonnes of cargo in navigation season of 2019
14:05 Singapore to host Asia Pacific Maritime conference (APM 2020) on March 18-20
13:43 Maritime experts gather for a discussion on Vietnam’s maritime future ahead of APM 2020
13:16 ASCO represented at “Caspian Ecology 2019” exhibition
12:50 New container ship added to FESCO fleet
12:24 International Chamber of Shipping opens China Liaison Office in Hong Kong
12:01 World Maritime University contributes to deep seabed mining discussions
11:37 RS Rules Update: new approval scheme for marine equipment
11:08 GTT Training installs its G-Sim LNG Carrier and Fuel Gas Handling and Bunkering Simulator in MTC Hamburg
10:59 Russia will support IMO Secretary-General Kitack Lim as a candidate for the next period
10:30 Bunker prices decrease at the port of Saint-Petersburg, Russia (graph)
10:08 Fincantieri starts dry dock works on “Ryndam” in Marghera
10:03 MABUX: Bunker market this morning, Nov 22
09:55 PortNews-TV launches regular video reviews of industry-related events
09:46 Brent Crude futures price is down 0.5% to $63.65, Light Sweet Crude – down 0.65% to $58.2
09:27 Baltic Dry Index is down to 1,255 points
09:08 Machulez KG coordinates the large scale logistics project at the port of Cuxhaven
08:11 Maersk Tankers is set to increase its managed fleet by 11 tankers

2019 November 21

18:01 Diana Shipping announces direct continuation of time charter contract for m/v Polymnia with Cargill
17:50 Freeport of Riga Authority and province of Corrientes sign Protocol of Agreement to facilitate growth of Riga and Corrientes ports
17:23 Training ship Perekop of RF Navy’s Baltic Fleet takes course from Sri Lanka to Sevastopol
17:00 Two Sendo Liners to be entering the port of Amsterdam emission-free by 2020
16:45 Severnaya Verf lays down fourth processing trawler of Project 170701 for Norebo Group
16:28 Star Bulk reports Q3 net profit of $5.8 million
16:00 MacGregor secures complete piggy-back hatch cover order from Fincantieri Bay Shipbuilding
15:46 Danfoss Editron appoints Erno Tenhunen as new Marine Director
15:31 ECOsubsea gains further foothold in major European ports to become benchmark for sustainable effective hull cleaning
15:17 Baltic Sea Ports Administration reports readiness of 6 line and 7 port icebreakers for winter navigation season
15:00 Chart Industries joins SEA\LNG coalition
14:38 Orolia Maritime unveils new PLB with Return Link System for 2020
14:21 Amsterdam, the Netherlands, to host 8th edition of ACI’s Ship Recycling Congress on 29-30 January 2020
14:09 Nexans to provide the 225 kV power export cables for one of the biggest offshore wind projects in France
13:50 Bunker market in the Far East ports of Russia sees mixed price movements (graph)
13:28 Singapore’s First Women in Shipping Summit to be held on 20-21 April 2020
13:27 Oldendorff Carriers signs agreement with MIT on ship design
13:09 ZIM posts Q3 2019 results
12:46 5th Singapore Maritime Technology Conference to be held on 21-23 April 2020
12:35 Proman Stena Bulk and GSI sign deal for new methanol tankers
12:09 Port of Zeebrugge and Yugo sign MOU for cooperation in Lingang Overseas Modern Industrial Park
11:57 Nobel Brothers Shipyard launches small refrigerating trawler of Project Т30В, Vympel
11:09 MOL to build Japan's 1st LNG-fueled ferries : Sunflower Kurenai and Sunflower Murasaki
10:43 DNG Energy to commence LNG bunkering operations from Algoa Bay next year
10:09 Fincantieri and Ponant sign an MOA for the construction of 2 new-generation cruise ships
09:51 Container throughput of port Hong Kong (China) down 6.2% to 15.27 million TEUs in Jan-Oct’2019
09:39 MABUX: Bunker market this morning, Nov 21
09:33 Brent Crude futures price is down 0.32% to $62.2, Light Sweet Crude – down 0.25% to $56.87
09:17 Baltic Dry Index is down to 1,260 points
08:29 Port of Hamburg cargo throughput grows 3.2 percent to 104 million tons in first three quarters of 2019

2019 November 20

18:10 FESCO provided transportation of nuclear submarines’ blocks and tanker from Kamchatka Territory to decommissioning site in Primorye