For the company’s offshore drilling segment, revenues from drilling contracts increased by $153.9 million to $499.4 million for the three-month period ended December 31, 2014, compared to $345.5 million for the same period in 2013.
The tanker segment is driving growth.
For the tanker segment, net voyage revenues amounted to $23.9 million for the three-month period ended December 31, 2014, compared to $11.9 million for the same period in 2013. The TCE rate for the tanker fleet stood at $26,003 per day per vessel in the three-month period ended December 31, 2014. This improvement is significant compared to the $12,963-per-day-per-vessel TCE rate in the corresponding period of 2013. The PowerShares DB Oil Fund ETF (DBO) tracks the performance of crude oil.
Looking ahead to 2016, Dryships foresees that the strong tanker market should extend well. Other companies are also seeing a similar outlook for the tanker market.
New insider filings for ONVO: ORGANOVO HOLDINGS, INC.
First-Class Insider (Chairman, CEO and President): Murphy Keith
Sold 28,008 Common Stock (Non-Derivative security at $6.340) on Feb 13, 15. Direct holding 5,961,328 shares/units after transaction. Holdings decreased -0.47%.
Acquired 28,008 Stock Option (Right to Buy) (Derivative security at conversion or exercise price: $6.340) on Feb 13, 15. Direct holding 28,008 shares/units after transaction. Stock Option (Right to Buy) expires on Feb 13, 25.