International Shipholding Promotes Manuel Estrada to VP & CFO

International Shipholding announced this week the election of veteran employee Manuel (Manny) Estrada to Vice President and Chief Financial Officer. Mr. Estrada is to succeed Gary Ferguson, who has retired. The company also elected Sheila Dean-Rosenbohm to VP of Planning & Administration, Ada Pratt Bouchard to VP and Controller and Jennifer C. Delcambre to Director of Internal Audit. Roger K. Franz and Eduardo Seoane have newly joined the company, bringing with them 50 years in combined experience.

Written by: carisk | Categories: Freshly Minted, People & Places, The Week in Review | June 30th, 2005 | Add a Comment

Early Earnings Solid, Led by the Newly Public

The first round of 2005 earnings has come in, and the results are solid overall. While tanker companies General Maritime and Teekay did not see revenues quite as strong as 1Q04, the results were certainly nothing at which to balk. OMI, International Shipholding and Kirby all posted increases across the board, with OMI’s results particularly strong, and consistent in the revenue, net income and EBITDA categories, as shown in the accompanying table. The real over-performers so far, not surprisingly, were the companies who have gone public and expanded their fleets substantially in the past year. DryShips saw revenue, net income and EBITDA all increase by more than 70% based on 1Q04, while Top Tankers saw returns more than quintuple in each of these three categories.