The bankrupt Hawaii Superferry weighed on the earnings of Austal Ltd., the Australian-based parent company of the Louisiana shipyard that built vessels for use by the interisland ferry company.

Austal reported net profit fell 82 percent because it was forced to write down the debt it held in the Hawaii Superferry, which shut down operations and subsequently filed for bankruptcy on May 30. Austal's net profit fell to Australian $9.2 million from $52.3 million a year earlier.

The company said its earnings would have been higher if not for a $25 million Superferry writeoff. It said the company could recoup some of its investment if the Superferry's vessels are sold for more than $112.7 million.

SUGARCANE PRODUCTION FORECAST TO FALL

Hawai'i's sugarcane production is forecast to fall slightly this year from 2008, although the yield per acre is expected to rise.

The forecast by the National Agricultural Statistics Service calls for Hawai'i to produce 1.46 million tons of sugarcane this year, down 2 percent from the 1.49 million tons produced in 2008. The area harvested is forecast to fall to 21,700 acres from 22,800 acres the previous year.

Yield is forecast to rise to 67.2 tons per acre, up 2.6 percent from 65.5 tons per acre in 2008. That is significantly more than other sugar-producing states. Production this year is pegged at 38.5 tons per acre in Florida, 35 tons per acre in Texas and 27 tons per acre in Louisiana.

HEALTH CARE GROUP'S CEO STEPPING DOWN

Rich Meiers will retire from his post as president and chief executive officer of the Healthcare Association of Hawaii at the end of the month.

Meiers represented hospital, long-term-care, hospice and home care interests for the non-profit group for more than 19 years.

The association has appointed George Greene to succeed Meiers. Greene is an attorney who most recently was executive for the American Hospital Association's Region 9, an area that covers six western states.

CAR RENTAL DESIGNATES 'HYBRID BRANCHES'

Enterprise Rent-A-Car said it is designating four rental locations in Hawai'i as "hybrid branches," part of an ongoing nationwide effort that includes nearly 100 rental locations in 30 major markets across the U.S.

The branches have a higher concentration of available hybrids.

Three of the four Hawai'i hybrid branches are on O'ahu: 677 Ala Moana, 1778 Ala Moana, and 345 Hahani St. in Kailua. The fourth is on Maui at 40 Hana Highway in Kahului.