GulfMark Offshore Reports 3Q Profit Surge

Thursday, November 02, 2006
According to the Houston Chronicle, GulfMark Offshore Inc., said stronger daily rates for its services and increased use of its fleet sent third-quarter profit up sharply. Net income more than tripled to $39.9 million, or $1.91 per share, from $13 million, or 63 cents per share, a year ago. The recent quarter included a 32-cent boost from the sale of a vessel. Excluding the sale, earnings would have been $1.59 per share. Revenue rose to $75.8 million from $53 million a year ago.

Rates for the company's vessels appreciated 45 percent for its North Sea based fleet, compared with the prior year, and rose 22 percent for its Southeast Asia-based fleet. Rates rose a more modest 5 percent for its Americas-based vessels.

Utilization of the company's vessels climbed above 95 percent for all regions during the quarter. Shares of the company added $2.87, or nearly 9 percent, to $35.93 in aftermarket activity, after closing down $1.47, or 4.3 percent, at $33.06 on the Nasdaq. Source: Houston Chronicle

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

Finance

China Shipbuilders may Merge to Stay Afloat

The China's four state-run shipping-related companies  are reportedly in the initial phases of combining units in order to beef up the national shipbuilding industry, says local media.

Seaspan Takes Delivery of New Containership

Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co.

'Make in India’ - the Newbuzzword in Indian Shipping Sector

The Prime Minister Narendra Modi's  'Make in India’ initiative offers a plethora of opportunities in the maritime sector, particularly in shipbuilding, with the

 
 
Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.1111 sec (9 req/sec)