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)

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

People & Company News

Barge Master Launches Fit-for-Purpose Gangway

Press release - Barge Master has announced the official launch of a motion compensated gangway after building a track record in motion compensated lifting. ‘The

Norway's Offshore Shipping Sector Faces Bleak Year

Norwegian companies that provide supply ships and drilling rigs to the global oil industry face a bleak year ahead as contracts disappear and financing options

Maersk Venturer to Drill for Total

Maersk Drilling has been awarded a contract for the drillship Maersk Venturer with oil major Total. The contract covers one exploration well (estimated duration

Tanker Trends

New Methanol Projects to Change Chemical Shipping Patterns

New US and Middle East methanol production capacity being added over the next two years will have serious implications for chemical shipping trade flow patterns,

Frontline 2012, Frontline Merger Completed

Frontline 2012 Ltd. has completed its previously announced merger with Frontline Ltd. , with Frontline as the surviving legal entity and Frontline 2012 becoming

EuronavSells Suexmax Cap Laurent

Euronav NV announced the sale of its Suezmax Cap Laurent for $22.25 million. The 1998-built 146,145-dwt vessel was wholly owned by Euronav.    The vessel was

Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Ship Repair 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: 0.0841 sec (12 req/sec)