TOP Tankers Posts $11M 3Q Loss

Monday, December 11, 2006
The Greek ship maker’s revenues grew 41 percent from $50 million to $70.6 million in compared to the same period a year ago. While revenue increased, it failed to match the rise in charter hire expenses that jumped from around $2 million to $29 million in 2005 third quarter. The company also restated its earnings for the first and second fiscal quarters in 2006 to remedy the accounting treatment for certain sale and leaseback transactions. The restatement would deduct $55 million from a gain on a seller's credit of $96 million. This would reduce earnings per-share by 1 cent in the first quarter and 7 cents in the second quarter. Net income per share in all subsequent quarters until Dec. 31, 2010 would be reduced by about 7 cents, the company stated. Top Tankers’ share decreased 2 cents, or 0.36 percent to close at $5.50 in Thursday trading on the Nasdaq exchange.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

DryShips Reaches Agreement with Ocean Rig

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc.

South China Sea Hotline in the Works

China and Southeast Asian nations have agreed to set up a foreign ministers' hotline to tackle emergencies in the disputed South China Sea, a senior official of

LNG

Fratelli Neri Orders Damen Tug

One of the largest Italian tug owners, Fratelli Neri S.p.A, ordered its first Damen tug, an ASD 3212, on 21 July 2015.   The vessel will be the first ASD tug

NOIA Applauds Senate Passage of OPENS Act

NOIA President Randall Luthi issued the following statement on the Senate Energy and Natural Resources Committee’s passage of the OPENS Act, which will open new

MARAD to Host Meeting on Proposed Delfin LNG License

MARAD Announces Public Scoping Meetings for Proposed Delfin Liquefied Natural Gas Deepwater Port Export Facility.   On July 29, the Maritime Administration

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pipelines Port Authority Ship Electronics 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: 0.0897 sec (11 req/sec)