Quintana Maritime Reports 2Q 2007 Results

Wednesday, August 08, 2007
Quintana Maritime Limited said its operating and financial results for the three months and six months ended June 30, 2007. Year to Date 2007 Highlights: · Increased 2007 and 2008 quarterly dividend guidance by approximately 30% to $0.31 per share beginning with dividend relating to the second quarter of 2007; · Increased net income by approximately 604% and Adjusted EBITDA by approximately 256% over the second quarter of 2006, principally resulting from the operation of an average of 29 ships in the second quarter of 2007 compared to an average of 10 ships in the corresponding period in 2006; · Completed a sale-leaseback transaction for our 7 oldest Panamax vessels, receiving net proceeds of approximately $250 million; · Paid down $185 million of debt with part of the net proceeds from the sale-leaseback transaction; · Completed negotiations with Bunge for the remaining term of the master time charter which ends December 31, 2010 for all 17 vessels under the agreement; · Leveraged our relationship with our sponsors by entering into joint ventures for construction of Capesize vessels; and · Secured almost $700 million in expected net revenues from third quarter 2007 through end of 2010, representing on average approximately 75% of our current fleet capacity expressed in net operating days.

Maritime Today

The Maritime Industry's original and most viewed E-News Service

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


DP World, SCA Pact for Ain Sokhna Port Development

Suez Canal Authority (SCA) and the Red Sea Ports Authority signed an agreement with Dubai Ports World (DP World) and Sonker Bunkering Company for the development of Egypt’s Ain Sokhna seaport,

Canada to Aid Developing Nations Fight Climate Change

Canada will provide aid to developing countries to combat climate change, Prime Minister Justin Trudeau announced on Friday ahead of talks on global warming,

Gates to Launch Mega Clean Tech Initiative

Microsoft co-founder Bill Gates will launch a multi-billion-dollar clean energy research and development initiative on Monday, the opening day of the U.N. climate change summit in Paris,

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Sonar
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: 0.0722 sec (14 req/sec)