Knightsbridge Tankers 1Q Profit Falls

Wednesday, May 17, 2006
Knightsbridge Tankers Ltd. reported a 14 percent decline in first-quarter profit as revenue fell and operating costs rose. The Bermuda-based company reported quarterly net income of $14.2m, or 83 cents per share, compared with $17.1m, or $1 per share, in last year's first quarter. Operating revenue fell to $27.2m from $29.4m. Analysts were expecting a profit of 87 cents per share. Prices for very large crude carriers continued downward early in the quarter, the company said, following a downward trend that began in November. The industry enjoyed a pricing spike in late January and early February, but rates then eased through the rest of the quarter, the company said. The company's total operating expenses grew to $11.8m from $11.4m in last year's first quarter. The company said the market for very large crude carriers has improved from April levels, but refinery maintenance in some areas may lower demand for oil, which could drag down rates. (Source: Houston Chronicle)
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navigation

Tug Boat Owner Jailed After Crew Man Dies

A tug boat owner was today was given an 8 month custodial sentence after his crew member died trying to reattach a tow line in a violent storm. During today’s hearing at Southampton Crown Court,

COMPIT to Showcase Smarter Ships, Systems & Solutions

The 14th International Conference on Computer and IT Applications in the Maritime Industries (COMPIT) will take place from 11th to 13th May 2015 in Ulrichshusen, Germany.

Mariners Transiting Delaware River Cautioned

The Captain of the Port (COTP) Delaware Bay is notifying mariners that Upper Delaware River lighted buoy 33 (LLNR 3875) and Upper Delaware River lighted buoy

Finance

Indian Ports to Set Sail on Corporatization

Indian Finance Minister Arun Jaitley said in Union Budget 2015 that government-run ports in India will be encouraged to corporatize and become companies under the Companies Act.

Zvezda Shipyard Comes Up Despite Western Sanctions

German and Finnish partners continue to build Russia’s Far Eastern “Zvezda” shipyard for Arctic oil exploration ships, in spite of Western sanctions, reports Sputnik.

ADB Okays $30mln for Pak LNG Terminal

The Asian Development Bank (ADB) has approved a $30 million project loan to Engro Elengy Terminal Private Limited, a special purpose company which will build Pakistan’s

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1829 sec (5 req/sec)