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

People & Company News

PMSC Approved to Supply Armed Guards on French Ships

Aspida is the first PMSC to be permanently approved by CNAPS to provide armed guards onboard French flagged vessels.   Maritime security firm Aspida informs that as of June 12,

Maersk Returns to the Port of Baltimore

Maryland Lt. Governor Boyd Rutherford, along with congressional, state and local officials, officially welcomed Denmark-based Maersk Line, part of the Maersk Group

BMT Awarded Port Geographe Coastal Engineering Contract

BMT JFA Consultants (BMT), a subsidiary of BMT Group,  has been awarded a contract by the Western Australian Department of Transport (DoT) to provide services as

 
 
Maritime Contracts Maritime Security Naval Architecture Pod Propulsion Port Authority 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: 0.1443 sec (7 req/sec)