Bourbon Reports Increased Operating Income

Wednesday, September 13, 2006
Gross Operating Income totaled $146.2m or 115.1 million euros, up 12.7% in the first half of 2006. This strong performance was achieved by the sharp growth in the Offshore Division, particularly in Africa, and by the solid performance achieved by the Towage & Salvage Division, whereas the Bulk Division was impacted by lower cargo rates. Operating income rose 7.6% to $90.4m or 71.2 million euros and reflects the increase in amortization and depreciation due to the rise in the number of vessels in the fleet. The Group share of net income in first half 2006 was $66m or 52.2 million euros. The first half of 2005 (68.2 million euros) benefited from unrealized foreign exchange gains and the activation of tax credits made possible by the sale of the Vindemia shares in the second half of 2005. Finally, Bourbon recorded capital expenditures of $307.5m or 252 million euros for this half.

"The Offshore Division and Towage & Salvage Division recorded very strong operating results. The commissioning of new vessels in a promising market strengthens our leadership in modern offshore," announced Jacques de Chateauvieux, Chairman and Chief Executive Officer.

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Zamakona, Finnish GS-Hydro Ink Deal

The presentation ceremony of the Finnish multinational leader in water services GS-Hydro, new partner of Zamakona Yards in Canarias was held yesterday (January 29th at 7 p.

HII Acquires Engineering Solutions Division

Huntington Ingalls Industries (HII) has acquired the Engineering Solutions Division of The Columbia Group, a designer and builder of unmanned underwater vehicles

'World's First Hybrid Superyacht'

Developed by Dutch shipbuilders Feadship, the 83.5m Savannah is touted as the world's first hybrid super yacht. Vessel is 30% more fuel efficient than similar sized counterparts, claims the company.

Finance

Adani Group Revamps Businesses

Adani Enterprises Limited together with its subsidiaries Adani Ports and Special Economic Zone Limited (“APSEZ”) and Adani Power Limited (“APL”) today announced

PHA Budgets $ 275 mi for Capital Improvements

In 2015, the Port of Houston Authority has budgeted $275 million for various capital improvement projects. About $184 million is being allocated to its container

Shippers Must Monitor Greek Government Changes

Moore Stephens says shipping must monitor developments in wake of Greek government change   International accountant and shipping adviser Moore Stephens says

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction
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: 0.1228 sec (8 req/sec)