Dolphin Marine's Latest Financial Results Better Than Expected

Press Release
Wednesday, November 14, 2012

Dolphin Marine, suppliers of marine geophysical services, presents Q3 and first nine months of 2012 financial results


· Revenues of USD 61.2 million, compared to USD 43.0  
million in Q3 2011
· EBITDA of USD 28.9 million (47,2%), improved from  
USD  9.1  million in Q3 2011
· EBIT of USD 16.8 million (27,4%), compared to USD  
5.5 million in Q3 2011
· Net Income before tax of USD 16.4 million, compared  
with USD 3.9 million in Q3 2011 

· Dolphin successfully enters into and completes the  first 3D Multi-Client survey in Norway.

Atle Jacobsen, Dolphin Group CEO, commented: 
"There is strong market demand for Dolphin's marine  
seismic services. High operational efficiency and  
fleet utilisation, improved contract pricing and  
strong Multi-Client sales from new projects, has  
generated better than expected third quarter revenues  
and profit." 

"From day one, Dolphin has emphasised the importance  
of building a strong internal geophysical and Multi- 
Client business competence. This strategy works.

Today our Multi-Client seismic model is being  
recognised by an increasing number new global clients  
and governmental authorities. By successfully  
initiating a senior unsecured bond loan of NOK 400  
million, Dolphin has strengthened its financial  
capabilities, secured the roll out of future strategy  
and increased its ability to compete in global  

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

People & Company News

US Shipowner Creates Fund for Families of Missing El Faro Crew

The owners of the cargo ship El Faro that sank after it was trapped in the path of Hurricane Joaquin off the Bahamas last week announced the creation of a family

Coast Guard Foundation Raises $250,000 for Scholarships

The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced today that

Newport News Shipbuilding Converts to Natural Gas

Huntington Ingalls Industries (HII) announced today that its Newport News Shipbuilding division has converted its steam-generation plant from heavy fuel oil, also known as Bunker C,


US Senators Introduce Bill to Limit Offshore Drilling

A group of U.S. Senators on the West Coast have introduced a bill Wednesday aiming to prohibit offshore drilling on the outer continental shelf of California, Oregon and Washington.

Danish-South Korean Co-operation Strengthened

The Danish-South Korean Green Growth Alliance met for roundtable talks yesterday. The Minister for Business and Growth's meeting with the South Korean Minister

Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more


Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in

Commodities See Biggest Price Jump in 3 Years

Commodities jumped on Friday, headed for their largest weekly gain in more than three years as base metals roared higher after Glencore pledged to slash zinc output

Asia-N.Europe Box Rates Plunge 17 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 17.3 percent to $259 per 20-foot container (TEU) in the week ended on Friday,

Maritime Security Navigation Pipelines 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: 0.1669 sec (6 req/sec)