Knightsbridge Tankers Announces Dividend Surplus

Tuesday, January 16, 2001
Knightsbridge Tankers, a Nasdaq listed firm that leases five very large crude carriers (VLCCs) to Shell International, said on Tuesday its fourth quarter 2000 dividend would be over three times the average.

"The quarterly dividend is usually about 45 cents per share," a Knightsbridge spokeswoman said, adding "This time we're paying $1.68 per share."

The deal with Shell guarantees a minimum rate of $22,069 per day for each tanker in poor market conditions but in good market conditions the hire rate is linked to the spot market rate.

"The spot market related rate for the fourth quarter of 2000 exceeds the guaranteed minimum rate by $45,576 per vessel per day," Knightsbridge said in a statement.

The fourth quarter of 2000 saw an unprecedented high in tanker earnings on the strength of increased OPEC output and strict tanker chartering policies.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

Partnerships Key to Caribbean Maritime Security

Planning and execution of port and maritime safety and security in Caribbean region is all about partnerships Maritime security and safety experts are meeting in Nassau,

Eurodam Tops in USPH Inspections

Holland America Line’s ms Eurodam achieved a perfect score of 100 on a recent routine United States Public Health (USPH) inspection conducted by the U.S. Centers for Disease Control and Prevention.

Finance

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

China to Import 335 MT of Naphtha, Wants More

China is set to import more than 335,000 tonnes of naphtha and diesel, rare moves for the world's no. 2 oil consumer given it has been self-sufficient at meeting domestic oil product demand,

Total CEO: EU Must Fight US Crude Export Law

First major public appearance of new Total head; he challenges European politicians to fight US ban. The new head of French energy major Total challenged Europe to fight Washington over the U.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Electronics 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: 0.1384 sec (7 req/sec)