Knightsbridge Tankers Limited (the “Company”) reports net income of $14.5 million and earnings per share of $0.85 for the third quarter of 2006. The average daily time charter equivalents (“TCEs”) earned by the Company’s five VLCCs was $52,900 compared with $42,800 in the preceding quarter. The third quarter earnings reflect the strengthening of the tanker market that commenced in the second quarter. Net interest expense for the quarter was $1.5 million (2005 comparable quarter: $1.1 million) and at September 30, 2006, all of the Company’s debt is floating rate debt. As of November 6, 2006, the Company has an average cash breakeven rate for its vessels of $18,998 per vessel per day compared to $19,200 on August 7, 2006.
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about 20 years ago
Knightsbridge Tankers Limited – Third Quarter 2006 Results
Knightsbridge Tankers Limited (the “Company”) reports net income of $14.5 million and earnings per share of $0.85 for the third quarter of 2006. The average daily time charter equivalents (“TCEs”) earned by the Company’s five VLCCs was $52,900 compared with $42,800 in the preceding quarter. The thir
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