• ITVI.USA
    15,845.180
    -15.980
    -0.1%
  • OTLT.USA
    2.806
    0.013
    0.5%
  • OTRI.USA
    21.590
    0.130
    0.6%
  • OTVI.USA
    15,846.760
    -20.840
    -0.1%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
  • ITVI.USA
    15,845.180
    -15.980
    -0.1%
  • OTLT.USA
    2.806
    0.013
    0.5%
  • OTRI.USA
    21.590
    0.130
    0.6%
  • OTVI.USA
    15,846.760
    -20.840
    -0.1%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
American ShipperShipping

International Shipholding reports higher 4Q profit

   International Shipholding Group said it had a profit of $11.5 million in the fourth quarter ending Dec. 31, compared to $1.8 million in the same 2011 period. 
   Operating income for the quarter was $10.1 million versus $5.4 million a year earlier. Revenue was $56.8 million in the fourth quarter compared to $61.8 million.
   The profit included a non-cash foreign currency exchange gain of $4.7 million and a gain of $12.2 million on the sale of a vessel.
   During the quarter the company also:

  • Closed on the acquisition of U.S. United Ocean Services (UOS) on Nov. 30.
  • Acquired a 1999-built pure car truck carrier which has been deployed on a long-term time charter.
  • Invested in four additional mini-bulkers as part of the 25 percent owned venture which now operates 14 of these vessels.

   For the full-year 2012, the company had a profit of $22 million compared to a profit in 2011 of $32.6 million. Operating income was $24 million versus $43.6 million in 2011. Revenue last year was $243.5 million compared to $263.2 million.
   “In 2012, we successfully executed our long-standing strategies in three important areas during a challenging environment for the shipping industry,” said Niels M. Johnsen, chairman and chief executive officer, in a statement.
   “First, we diversified and expanded our fleet to 50 vessels, including the recently closed acquisition of United Ocean Services in the fourth quarter. Second, we increased our fixed revenues by adding long-term contracts with creditworthy customers. Finally, through transactions involving our pure car truck carriers, we were able to add a modern vessel to our fleet and enhance our financial flexibility,” he said. – Chris Dupin

Chris Dupin

Chris Dupin has written about trade and transportation and other business subjects for a variety of publications before joining American Shipper and Freightwaves.

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