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Teekay Shipping today released it's 2006 earnings report which showed the
company had made substantially less earnings last year than in 2005.
Net income for 2006 stood at $262.2 million, less than half the reported
income for 2005 of $570 million on a virtually unchanged turnover, as far
as voyage revenues were concerned, at $1.5 billion.
A decrease was seen in revenues generated by the spot tanker segment in
the fourth quarter of 2006 against those of 2005 due to a decrease in
charter rates and a reduction in the size of the company's spot tanker
fleet.
Teekay now operates a fleet of 160 vessels. A sizeable number of newbuilds
are being built for Teekay's LNG subsidiary.
The report can be downloaded here:
http://www.teekay.com/documents_root/News%20Releases/Teekay_Q4_2006_ER_Final.pdf |
