Hornbeck Offshore Q1 Profit Up

Thursday, May 01, 2008

Hornbeck Offshore Services Inc., posted higher quarterly earnings, but missed market expectations, even as it reaffirmed its full-year earnings outlook, Reuters reported.
Hornbeck, earned $23.1m, or 86 cents a share, compared with $17.5m, or 67 cents a share, a year ago.  Revenue rose 43 percent to $97.5 million.Effective dayrates for the 10 conventional vessels for the first quarter fell sequentially $1,400 to $4,900, the company said in a statement.
Quarterly effective dayrate for its new generation vessels rose 11 percent to $19,359, while that of tug and tank barges fell about 2 percent to $16,315.
Effective dayrate represents the average dayrate multiplied by the utilization rate for the respective period.
Operating margin for the offshore supply vessels, which ferry food, water and personnel to offshore rigs, fell to 43 percent, while that of tug and tank barges, which is used to transport oil, fell to 26.4 percent.  Hornbeck reaffirmed its full-year 2008 earnings outlook of $3.68 to $4.16 a share.

Source:  Reuters

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Funding Secured for Project to Deepen the Delaware River

Dennis Rochford, president of the Maritime Exchange for the Delaware River and Bay, announced that President Obama’s FY17 proposed budget includes $33 million for the Delaware River Deepening Project.

Top 10 Shipowning Nations by Value

VesselsValue has provided a list ranking the top shipowning nations by value, including the percentage change difference against 2015 figures. Although the

Port of Hamburg Reports Bulk Cargo Jump in 2015

The Port of Hamburg reports higher bulk cargo throughput and strong growth in rail and inland waterway seaport-hinterland traffic in 2015 – downturn in container handling.

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Shipbuilding / Vessel Construction Sonar 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: 0.0692 sec (14 req/sec)