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 Today

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

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

People & Company News

Henriksen Unveils Strongest SOLAS Boat Lifting Hook

H Henriksen of Norway has received SOLAS certification for a new off-load single-point boat lifting hook capable of holding up to 22.5-tonnes. The quick release

S&P Raises Steamship Mutual outlook to Positive

Poor’s has revised its outlook on Steamship Mutual to Positive from Stable. The A- financial strength rating has been reaffirmed. In their announcement Standard

SSA Welcomes Decision To Extend BEO

The Singapore Shipping Association (SSA) has welcomed the decision by Singapore’s Minister for Trade and Industry to extend the Competition (Block Exemption

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Shipbuilding / Vessel Construction 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: 0.0855 sec (12 req/sec)