Bergesen Profits Surge 89%

Thursday, November 09, 2000
Norwegian shipping firm Bergesen reported that a solid tanker market has led to an 89 percent surge in nine-month operating profits, a trend that will help to boost earnings for the rest of 2000. The company, which owns and operates shipping vessels, posted operating profits in the nine months to September 30 of $110.5 million, jumping from $58.6 million in the same period last year. "Bergesen's operating profit is expected to be higher in the fourth quarter than in the third," the company said in its quarterly report. For the third quarter alone, it posted an operating profit of $50.5 million. "The tanker market is expected to remain buoyant despite a high number of newbuilds and a possible drop in the rate of growth in the demand for oil in the first half of next year," Bergesen said. Tanker operations saw profits more than double in the nine-month period to $60.9 million crowns from $28.3 million. Bergesen said the average time charter income in the period was $25,500 per day, compared with $19,900.

Maritime Today


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

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

Shipbuilding

Fundraiser Held for USS Gerald R. Ford Crew

Blackmer, a company in positive displacement and centrifugal pump and reciprocating compressor technologies, has a relationship with the U.S. Military that dates

Meercat Workboats Scores a Hat-trick

The U.K.’s Meercat Workboats says it scored a hat-trick; the Hampshire-based boat builder announced it is moving premises, that Seawork was a huge success and that

First MAN D2676 Workboat Engine Ready for Launch

Last December, MAN Engines introduced its latest generation in-line six-cylinder engines for workboats. Now the first MAN D2676 LE443 engine off the production

Tanker Trends

Essberger Fleet Moves to Marlink’s Sealink VSAT Service

The Hamburg headquartered John T. Essberger (JTE) Group will migrate the primary communication systems of its entire fleet to Sealink, Marlink’s global maritime broadband VSAT service.

China's Robust Crude Oil Imports Mask Changing Fuel Dynamics

China is a bigger concern for crude oil and products markets than the current worries about the British vote to leave the European Union.   While the news media

Navig8 Chemical Adds New Tanker from Kitanihon

Chemical shipping company Navig8 Chemical Tankers Inc. has taken delivery of its first stainless steel chemical tanker, the Navig8 Sirius, from Japanese shipbuilder Kitanihon Shipbuilding Co.

 
 
Maritime Security Maritime Standards Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators 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: 0.0560 sec (18 req/sec)