SBM Offshore Raises Net Income Expectations

Friday, May 19, 2006
SBM Offshore N.V. announced that it has raised its 2006 net income expectations from the $165m originally forecast in January of this year to $185m. This increase results from several developments during recent months: • recently announced major contract awards and execution of contracts in hand have enhanced expected returns from turnkey systems projects in 2006; • good performance of F(P)SO fleet generates bonus revenues in excess of originally budgeted amounts; • confirmation from Total of a one year extension to the lease and operate contract for the LPG FSO Nkossa II currently operating offshore Congo; • net interest expense will be lower than expected, mainly due to accelerated cashflow compared to budget, prepayment of certain project loans and negotiation of reduced margins on other facilities. The Company will provide a more detailed update of full year expectations at the time of publication of its half-year results.
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Maersk Drilling Rig Team Train Local Talent

Maersk Drilling says that its 'Mærsk Deliverer' rig team has initiated seven local acceleration programmes in Angola. The goal is to train and develop local talent

New Offshore Vessel Management Mobile App

Telerik says that its customer Bhagwan Marine, a leader in servicing the oil and gas industry, together with partner, Glenfield Digital Group, has released the

North Sea OSVs Liable to Detention if MLC Non-compliant

The Maritime Labour Convention (MLC), an international agreement which safeguards the employment rights, working conditions and health care of seafarers, came into force in the UK on 7 August.

Finance

HK's COSCO International Reports Strong Profit Growth

For the  six months ended 30th June 2014, shipping services provider COSCO International has announced that its 2014 Interim Results show strong profit growth with Net Profit up 45% YOY.

Asia–U.S. Container Lines to Introduce Freight Increase

The Transpacific Stabilization Agreement (TSA) informs that member container shipping lines are proposing an across-the board general rate increase (GRI) of at

Star Bulk to Acquire 34 Drybulk Vessels

Star Bulk entered into a definitive agreement with Excel Maritime Carriers Ltd., and as a result, will acquire 34 drybulk vessels for an aggregate of 29.917 million

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1167 sec (9 req/sec)