Teekay Reports 2Q Results

Thursday, August 03, 2006
Teekay Shipping Corporation reported net income of $20.4m, or $0.27 per share, for the quarter ended June 30, 2006, compared to net income of $104.6m, or $1.23 per share, for the quarter ended June 30, 2005. The results for the quarters ended June 30, 2006 and 2005 included a number of specific items that had the net effect of decreasing net income by $29.4m, or $0.39 per share, in the second quarter of 2006, and increasing net income by $12.7m, or $0.15 per share, in the second quarter of 2005. Net voyage revenues for the second quarter of 2006 were $311.2m, compared to $381.8m for the same period in 2005, and income from vessel operations decreased to $68.9m from $131.5m, which included $15.9m in gains on vessel sales. Net income for the six months ended June 30, 2006 was $122.1m, or $1.62 per share, compared to $383.6m, or $4.42 per share, for the same period last year. The results for the six months ended June 30, 2006 included a number of specific items that had the net effect of decreasing net income by $46.8m, or $0.62 per share. The results for the six months ended June 30, 2005 included a number of specific items that had the net effect of increasing net income by $146.5m, or $1.69 per share. Net voyage revenues for the six months ended June 30, 2006 were $703.6m, compared to $800.7m for the same period in 2005, and income from vessel operations decreased to $211.6m from $401.4m, which included $117.7m in gains on vessel sales.

Maritime Today


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

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DSC Dredge Receives President’s E-Star Award

DSC Dredge, LLC, based in Reserve, La., has received the 2016 President’s “E-Star” Award for exports.   In a ceremony held on May 16, 2016, at the U.S. Department

Portugal PM Warns Lisbon Dock Workers to End Strike

Portugal's prime minister warned Lisbon dock workers on Friday that his patience was running out after a strike that has lasted a month, paralysing the city's ports.

Hercules Offshore Filing for Bankruptcy Again

Hercules Offshore Inc said it planned to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection.

 
 
Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0882 sec (11 req/sec)