DHT Profit Rises

Wednesday, September 03, 2008

The St. Helier, Channel Islands-based oil tanker owner and operator DHT Maritime said  its second-quarter profit jumped 39 percent as the demand for oil imports to and industrialization of emerging economies in the drive tanker demand.
DHT Maritime shares shot up 1.9 percent, or 17 cents, to $9.08 at the close on Tuesday.

DHT Maritime said the tanker market has been positively impacted by a slowdown in speed and port delays, which increases the length of voyages and ton/mile demand. The company has also benefited from the scrapping and banning of single hull tankers ahead of the mandatory phase out beginning in 2010. Less ships on the water means less supply, which is beneficial as demand continues to be strong. Earnings rose to $10.3 million, or 29 cents per share, up from $7.4 million, or 25 cents per share, in the prior year, beating analysts' estimates of 26 cents per share.

Quarterly shipping revenue jumped 34.0% to $27.8 million, up from $20.7 million, above analysts' forecasts of $26.2 million. Income from vessel operations climbed to $15.6 million from $10.7 million a year ago. The company also declared a regular quarterly dividend of 25 cents per share.

Source:  Forbes

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

People & Company News

AEU Presents Safety Awards

The American Equity Underwriters, Inc. (AEU) presented its 2014 Safety Awards at the annual American Longshore Mutual Association, Ltd. (ALMA) Conference on July 19, 2015, in Key Biscayne, Fla.

Hapag-Lloyd Names Haeser Next CCO

Container shipping line Hapag-Lloyd AG’s supervisory board has appointed Thorsten Haeser as a new executive board member in charge of Hapag-Lloyd’s global sales

MARAD to Host Meeting on Proposed Delfin LNG License

MARAD Announces Public Scoping Meetings for Proposed Delfin Liquefied Natural Gas Deepwater Port Export Facility.   On July 29, the Maritime Administration

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair 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: 0.1707 sec (6 req/sec)