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 Today


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

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

Finance

Oil Price Bottoming Depends on Global Growth - IEA chief

International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed but that would depend on global economic growth. Asked if oil prices had reached a bottom,

ExxonMobil 1Q Profits Plunge 63%

Highlights   * Earnings of $1.8 billion decreased 63 percent from the first quarter of 2015.   * Earnings per share were $0.43 assuming dilution.   * Cash

Shipping, Key Ingredient of EU’s Africa Agenda

The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics 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: 0.0731 sec (14 req/sec)