DHT Maritime 2Q profit climbs on increased demand
By
Associated Press
September 2, 2008
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DHT Maritime Inc., previously known as Double Hull Tankers Inc., said Tuesday its second-quarter profit climbed 39 percent partly on increased demand for long haul oil transportation.
The St. Helier, Channel Islands-based oil tanker owner and operator also declared a regular quarterly dividend.
For the period ended June 30, earnings rose to $10.3 million, or 29 cents per share, compared with $7.4 million, or 25 cents per share, in the prior year.
Quarterly shipping revenue increased 34 percent to $27.8 million from $20.7 million.
Analysts polled by Thomson Financial expected net income of 26 cents per share on revenue of $26.2 million.
DHT said in a statement that it has benefited from growing demand in the Far East and China as well as falling oil prices. Income from vessel operations climbed to $15.6 million from $10.7 million a year ago.
The company's stock gained 19 cents, or 2.1 percent, to $9.10 in afternoon trading.
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