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 Deep
Sea Supply reported that the 4th quarter of 2006 was their best yet, with
an 18% increase in revenues compared with the third quarter.
2006 was the first complete year of Deep Sea Supply's operations and
2006's
Earnings Before Interest, Taxes, Depreciation and Amortization stood at NOK 265.3 million with a net result of NOK 245.2 million.
The company began in July 2005 when it acquired six 15000 BHP AHTS vessels
from Tidewater (Houston) of the KMAR 404 design.
In 2007, the fleet of Deep Sea Supply is expected to more than double
(from 7 to 16 vessels) as a consequence of the current newbuilding
program. This growth in fleet plus an expected strong offshore supply
market, the company said, should provide even stronger financial
performance from Deep Sea Supply in 2007.
Through 2007 to 2009 in total the company expects to take delivery of 19
new vessels.
The first first Rolls Royce UT 755 designed vessel SEA TROUT was
delivered to the company in January of this year from the Cochin Shipyard
in India. Delivery of the vessel was two and half months later than
scheduled and Deep Sea say that their second vessel from the yard out of
the seven ship order will arrive again later than expected in April of
this year.
The rest of the vessels are expected to be delivered on time or ahead of
schedule.
Complete report of 2006 4th quarter is at:
http://hugin.info/136132/R/1108013/200096.pdf
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