BOURBON Releases 1Q Results

Thursday, May 11, 2006
BOURBON's first quarter 2006 revenues totaled $219m, an increase of 21.5% compared with the same period in 2005 (14.7 % at constant exchange rates). In its Offshore Division, BOURBON saw revenues of $101m at the end of March 2006, up 32.9 % . The offshore oil and gas marine services recorded very strong growth, except in the North Sea. The Towage & Salvage Division reported revenue growth of 18.5% in the first quarter of 2006 against the backdrop of a strong market, particularly in the international segment. The Bulk Division recorded revenues of $52.3m at March 31, 2006, down slightly as expected from the same period in 2005. This change was driven by the combination of two opposite trends over the period: an increase in the volume shipped, specially in the trade of coal and iron ore in Far East; and a slight decrease in freight rates despite a still favorable market. In an offshore oil and gas market that is still expected to be very strong in 2006, BOURBON plans to diversify its client portfolio in its traditional operating zones and should accelerate its growth in new zones (particularly Southeast Asia). In bulk shipping, revenues should continue to be influenced by market freight rates.
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Grimaldi Orders Three PCTCs

After signing an order for the construction of five new ships two weeks ago, the Italian shipowner  Grimaldi Group has signed another contract for the construction

Caltex Replaces Australian Crew

The 36 Australian crew members of an Caltex tanker refusing to set sail after they were told their jobs would be gone after the next run. MR tanker Alexander Spirit (40,

Teekay LNG Partners Declares Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended June 30, 2015. The cash distribution is payable on August 14,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1179 sec (8 req/sec)