Top Tankers 1Q Profit Rises

Friday, May 12, 2006
Greek oil shipping company Top Tankers Inc. said first-quarter earnings rose sharply as the company increased the size of its fleet under operation. Net income rose 59 percent to $30.4m, or $1.06 per share, from $19.1m, or 69 cents per share, in the year-ago period. The latest quarter included charges of $3.2m, or 12 cents per share related to stock options and financing. Revenue more than doubled to $101.7m from $47.3m last year. At the end of March, the company operated 27 vessels, or 2.6 million dry-weight tons, up sharply from 18 vessels, or 1.3 million dwt, a year ago. Top shares rose 61 cents, or 7.5 percent, to $8.62 in early trading on the Nasdaq. The stock has moved between $7.07 and $18.32 in the past year. (Source: Houston Chronicle)

People & Company News

MN100: R.W. Fernstrum & Company

The Company: R.W. Fernstrum & Company set the standard in marine heat exchangers over 65 years ago, building a reputation focused on innovation. Today, its commitment is to continual improvement,

MN100: McDonough Marine Service

The Company: Bernard P. McDonough created the company in 1945 by leasing barges from his construction company into the marketplace. Through a series of new and used barge additions,

MN100: MarineCFO

The Company: Founded in 1992, UA Business Solutions was a pioneer in the field of Enterprise Resource Planning (ERP) and an early Microsoft Partner. The ERP evolution

Tanker Trends

Alfa Laval Launches DuroShell LPG/E Cargo Condenser

With the new Alfa Laval DuroShell plate-and-shell heat exchanger, Alfa Laval aims to strengthen its offering in LPG/E cargo reliquefaction with a construction that

Navy Discovers Malaysian Tanker

Indonesia's navy has found a tanker carrying almost US$400,000 worth of diesel that was taken by its own crew last week due to a commercial dispute, says a report in AFP.

Big Tankers' Need for Retrofit Slows Use of New Panama Canal

The promise that some oil traders and brokers saw for an expanded Panama Canal to become a new route for large tankers will take longer to realize than expected

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Salvage Ship Electronics Ship Repair 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: 0.1058 sec (9 req/sec)