Knightsbridge Tankers Announce 4Q Results

Wednesday, February 15, 2006
Knightsbridge Tankers Limited reported a net income of $15.9 million and earnings per share of $0.93 for the fourth quarter of 2005. The average daily time charter equivalents ("TCEs") earned by the company's five VLCCs in the quarter was $58,600 compared with $34,700 in the immediately preceding quarter. This increase reflects the strengthening of the market experienced in the fourth quarter. During the fourth quarter, the vessel TI Qingdao (formerly named Kensington) was drydocked at a cost of $515,000 and resulting in approximately 13 days offhire. The vessel TI Ningdo (formerly named Hampstead) is scheduled to be drydocked in the first quarter of 2006. Following this, all of the Company's five vessels will have completed their scheduled ten year drydocking and special survey. For the financial year ended December 31, 2005 the company reported an annual net income of $44.0 million and earnings per share of $2.57 compared with $85.8 million and $5.02, respectively in 2004. The average daily TCE's earned in 2005 were $47,100 compared with $68,700 in 2004. Net interest expense for the period was $4.3 million (2004: $7.4 million).
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Saudi SABIC Q1 Profit Falls 1.8 % On Product Prices

Profit at Saudi Basic Industries Corp (SABIC), one of the world's biggest petrochemical firms, slipped 1.8 percent in the first quarter of this year as lower

India's Reliance Q4 Sales Rise

Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue.

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Energy

Saudi SABIC Q1 Profit Falls 1.8 % On Product Prices

Profit at Saudi Basic Industries Corp (SABIC), one of the world's biggest petrochemical firms, slipped 1.8 percent in the first quarter of this year as lower

Korean Ferry Captain's Detention Could Extend As Death Toll Mounts

South Korean prosecutors investigating a ferry disaster said on Sunday they would seek to extend the detention of the ship's captain and two other crew by 10

First Bodies Recoved From Sunken Ferry

South Korean divers retrieved three bodies from inside a sunken ferry overnight, officials said on Sunday, the first time they have been able to gain entry to the passenger section of the ship.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Port Authority Ship Electronics 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: 0.0803 sec (12 req/sec)