Philly Shipyard Reports Profit Surge in 1Q

first_imgUS-based shipbuilder Philly Shipyard closed the first quarter of this year with a net income of USD 17.2 million, considerably higher from USD 1.9 million delivered in the same period of 2016. During 1Q 2017, the company’s operating revenues and other income were USD 167.8 million, up from USD 35.7 million seen in the three-month period a year earlier.As disclosed, operating revenues and other income were primarily driven by the delivery of American Freedom, the second of four next generation 50,000 dwt product tankers that the company is building for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan.In addition, the results were affected by the related sale by Philly Tankers of American Freedom’s shipping assets to Kinder Morgan and continued progress on the Matson vessels.EBITDA for 1Q 2017 stood at USD 29.9 million, compared to USD 2 million recorded in the same quarter of 2016.On March 31, 2017, the company had an order backlog of USD 624.4 million, with two APT’s MR2 product tankers and two Matson’s Panamax containerships under construction.The shipbuilder said that key focus areas for its operations this year are deliveries of the abovementioned ships according to contract delivery dates.In addition, main focus areas for Philly Shipyard’s business in 2017 would be securing new contracts and seeking capital to finance the construction of new vessels. Although there are no firm orders in place, the shipbuilder said it has started design work and procurement activities to build Hulls 031 and 032 as container vessels, with the construction planned for 2Q 2018.“While Philly Shipyard is currently focused on large containerships for its next contracts, Philly Shipyard continues to explore potential new construction projects in other areas of the Jones Act market,” the shipbuilder said.However, the shipbuilding company said that due to the current uncertainty in securing new orders beyond Hull 030, the PHLY Board decided not to pay dividends for the first quarter of 2017.In line with its diversification efforts, the company has teamed up with Fincantieri Marine Group (FMG) and Vard Marine to compete for the detail design and construction of the US Coast Guard’s next generation heavy polar icebreaker.last_img read more

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Men’s and Women’s Golf Ranked Nationally in Preseason Poll

first_img NEW YORK, N.Y. – The 2010 golf preseason coaches’ polls were released on Wednesday and both West Florida’s men’s and women’s golf teams received top 25 rankings in the country.The West Florida men’s golf team will start their season ranked No. 11 in the Division II Golf World/Nike Golf Coaches Poll. The Argos finished last season ranked No. 12. Regional opponent Florida Southern takes No. 1 honors while Gulf South Conference opponents North Alabama (No. 7) and Valdosta State (No. 25) also receive a ranking within the top 25 D II Men’s Golf programs. The Argos will be led by returners Ryan Black, Otto Bonning and Blake Olson, the GSC Freshman of the Year.  West Florida will open the season on September 17-18 at The McLaughlin in Farmingdale, N.Y.The Argonauts women’s golf team will start the season ranked No. 22 in the Division II Golf World/NGCA Coaches Poll. The Argos finished last season ranked No. 24. Regional opponent Florida Southern received No. 2 honors. Three-time GSC Player of the Year Bhavna Shetty leads the group of returners for UWF. West Florida will open the season on September 13-14 at the Queens University Invitational in Ponte Vedra, Fla.For information on all UWF Athletics, visit www.GoArgos.com.#ARGOS#GOLF WORLD/NIKE GOLF COACHES’ POLLMen’s Division II – Preseason EditionRank   Team                                      Points     NCAA1.         Florida Southern (12)              434         12.         Barry (1)                                  421         5 3.         Nova Southeastern                  378         64.         Chico State (1)                        358         35.         Lynn                                        314         96.         Georgia College (1)                 312         DNP7.         North Alabama                       287         DNP8.         Sonoma State (1)                    273         4 9.         Central Missouri (2)                269         210.       CSU-Stanislaus                       263         1311.       West Florida                           225         DNP12.       Lander                                     223         DNP13.       CSU-Monterey Bay                169         1114.       Central Oklahoma (1)             154         DNP15.       Abilene Christian                    152         DNP16.       Columbus State                       136         DNP17.       Belmont Abbey                       132         DNP18.       Ferris State                              130         T-719.       Indianapolis                            129         DNP20.       Barton                                     111         DNP            St. Edward’s                           111         DNP22.       Western Washington               94           T-723.       USC Aiken                             86           DNP 24.       Queens U.                               83           DNF25.       Valdosta State                        81           DNP GOLF WORLD/NGCA COACHES’ POLLWomen’s Division II – Preseason EditionRank   Team                                      Points     NCAA1.         Nova Southeastern (16)          447         Won2.         Florida Southern                     411         3 3.         Rollins                                     410         24.         Tarleton State (1)                    386         45.         Grand Valley State                 380         66.         Barry (1)                                  321         DNP7.         CSU-Monterey Bay                319         78.         Sonoma State                          314         5 9.         Belmont Abbey                       265         DNP10.       Indianapolis                            234         911.       St. Edward’s                           219         DNP12.       Grand Canyon                        217         DNP13.       California U. (Pa.)                   193         814.       St. Leo                                    190         DNP15.       Newberry                                162         DNP16.       Lynn                                        131         DNP17.       Angelo State                           129         DNP18.       Western Washington               127         DNP19.       Ashland                                   122         DNP20.       Carson Newman                     119         DNP21.       Drury                                       99           DNP22.       West Florida                           91           DNP23.       West Texas A&M                   90           DNP24.       Nebraska-Omaha                    74           DNP 25.       Augustana                               72           10Print Friendly Version Share Men’s and Women’s Golf Ranked Nationally in Preseason Polllast_img read more

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LeBron scores 46 as Cavs force Game 7 in Boston

first_img(Reuters) LeBron James’ 46 points, 11 rebounds and nine assists Friday night carried the Cleveland Cavaliers to a 109-99 win over the Boston Celtics at Quicken Loans Arena in Cleveland, tying the Eastern Conference finals at 3-3. Game 7 of the series is tonight in Boston, with the winner meeting either Houston or Golden State in the NBA Finals.“Feels good just to be able to play for another game,” James said after the game. “I’ve always said Game 7 is the best two hours in sports, so let’s go have fun with it.”George Hill enjoyed his best game of the series for the Cavaliers with 20 points, while reserve Jeff Green chipped in 14 and Larry Nance Jr. hit for 10 points. They helped make up for the loss of forward Kevin Love, who lasted five minutes before leaving with a possible concussion after a collision with Celtics rookie Jayson Tatum. Terry Rozier pumped in six 3-pointers and led Boston with 28 points while Jaylen Brown gunned in 27. Tatum finished with 15 but was largely a non-entity during the first half. Reserves Marcus Morris and Marcus Smart scored 10 points each.“This troupe’s resilient,” Celtics coach Brad Stevens told reporters postgame. “We’ll be ready to go on Sunday.”Cleveland led for most of the last 2 1/2 quarters, although the Celtics made things interesting in the fourth quarter when they cut the deficit to seven on multiple occasions. But James drilled back-to-back 3-pointers in a 43-second span to up the lead to 107-96 and quash remaining suspense. “Does that ever come into our minds? Yeah, like every time we’re out there,” Stevens said of James’ greatness. “Best player in the game, special night tonight. I can’t say enough good things about him.”The Cavaliers also dominated the glass and reaped the benefits at the foul line. Cleveland finished with a 44-31 advantage in rebounding, including 15-5 on the offensive boards, and went 18-of-22 at the stripe. Boston was a poor 11-of-20 at the line.The Celtics actually got off to a good start, unlike one-sided Game 3 and 4 losses in Cleveland. Brown lit it up with 15 first-quarter points, converting a pullup jumper with 8.3 seconds remaining that put Boston ahead 25-20. Things turned for good in the second quarter, when the Celtics could only manage 18 points. James’ floater with 21.8 seconds remaining wrapped up a 25-point half and helped usher the Cavaliers into the locker room with a 54-43 advantage.“Been fortunate enough to play some good basketball through my career,” James said. “Hopefully, I’ll get myself in a position to play great once again on Sunday.”last_img read more

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