Knightsbridge Tankers made a Q4 net profit of US$9.2m and earnings per share of US$0.53 compared to a Q3 net profit of US$14.5m, reflecting a seasonally weaker market. Average daily time charter equivalent earned by the Company's five VLCCs was US$41,700 compared with US$52,900 in the preceding quarter. For the full year 2006 Knightsbridge made a net profit of US$45.7m and earnings per share of $2.67 compared with US$44.0m and $2.57, respectively in 2005.
Knightsbridge notes the recent downturn in the market but believes it may be due to seasonal factors and it is satisfied with it position because of its “low degree of debt and good future contract coverage”.
Knightsbridge notes the recent downturn in the market but believes it may be due to seasonal factors and it is satisfied with it position because of its “low degree of debt and good future contract coverage”.