Dryships Reports 3Q Results

Wednesday, November 07, 2007
DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes, announced its unaudited financial and operating results for the third quarter and nine months ended September 30, 2007. For the third quarter ended September 30, 2007, Time charter equivalent revenues (Voyage revenues less voyage expenses) amounted to $140.5m as compared to $56.2m for the third quarter ended September 30, 2006. Operating Income was $118.2m for the quarter ended September 30, 2007, as compared to $15.7m for the quarter ended September 30, 2006. Net Income for the third quarter ended September 30, 2007 was $103.5m or $2.92 earnings per share calculated on 35.49m weighted average basic and diluted shares outstanding as compared to $3.5m or $0.11 earnings per share calculated on 33.23 million weighted average basic and diluted shares outstanding for the quarter ended September 30, 2006. EBITDA for the third quarter of 2007 was $136.5m as compared to $35.8m in the quarter ended September 30, 2006. An average of 33.7 vessels were owned and operated during the third quarter of 2007, earning an average Time Charter Equivalent, or TCE, rate of $45,525 per day as compared to an average of 29.8 vessels owned and operated during the third quarter of 2006 earning an average TCE rate of $20,808 per day.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Golden Ocean Reshuffles Fleet, Delays Newbuilds

Golden Ocean Group Limited has entered into several agreements concerning its fleet. Golden Ocean has agreed with Ship Finance International Ltd ("Ship Finance")

Royal IHC Congratulates the King in a Special Way

  Royal IHC is very honored to be part of the program on the King’s Birthday. Among other activities, the King and his family will be viewing a ‘Grande

USCG Refloat Grounded Bulker on St. Marys River

The grounded 603-foot Canadian bulk carrier Mississagi was successfully refloated on the St. Marys River following operations to offload approximately 2,000 tons of stone, Saturday.

Offshore

Royal IHC Congratulates the King in a Special Way

  Royal IHC is very honored to be part of the program on the King’s Birthday. Among other activities, the King and his family will be viewing a ‘Grande

Falklands' Oil Drilling at Isobel Deep Suspended

Oil explorers drilling in the waters north of the Falkland Islands have suspended work on the second well of their 2015 current six-well drilling campaign after a technical problem.

Arctic Nations to Fight Climate Change Despite Russia Tensions

The eight Arctic Council nations pledged on Friday to do more to combat climate change that is shrinking the vast frigid region, with countries trying to put

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Repair Ship Simulators 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: 0.2132 sec (5 req/sec)