Edition:
India

Capital Product Partners L.P. Q4 Earnings Per Share $0.08


Thursday, 31 Jan 2019 

Jan 31 (Reuters) - Capital Product Partners LP ::CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES FOURTH QUARTER 2018 FINANCIAL RESULTS.Q4 REVENUE $74.8 MILLION VERSUS REFINITIV IBES ESTIMATE OF $65.5 MILLION.Q4 EARNINGS PER SHARE $0.08.Q4 EARNINGS PER SHARE ESTIMATE $0.05 -- REFINITIV IBES DATA."PRODUCT TANKER MARKET REGISTERED A ROBUST RECOVERY IN Q4 OF 2018".BEGINNING OF QUARTER PRODUCT TANKER MARKET WAS WEAK IN LINE WITH PREVIOUS QUARTERS.PRODUCT TANKER MARKET GAINED MOMENTUM FROM EARLY NOVEMBER ONWARDS.STRONGER CRUDE MARKET SIGNIFICANTLY REDUCED CARGO POACHING BY NEWBUILDING CRUDE TANKERS ON CLEAN ROUTES.CAPITAL PRODUCT PARTNERS - REFINERY OUTAGES IN BRAZIL AND MEXICO REQUIRED SUBSTANTIAL VOLUMES TO BE MOVED WITH PRODUCT TANKERS TO MEET DEMAND.PRODUCT TANKER MARKET WAS BOLSTERED BY SEASONALLY STRONGER DEMAND DUE TO INCREASED HEATING OIL CONSUMPTION.SUEZMAX SPOT MARKET EXPERIENCED HIGHER RATES IN Q4 OF 2018.SUEZMAX TANKER MARKET WAS BUOYED BY INCREASED OPEC PRODUCTION IN FIRST 2 MONTHS OF QUARTER AND STRONG IMPORTS INTO CHINA.SUEZMAX TANKER MARKET SECTOR ALSO BENEFITTED FROM DELAYS IN TURKISH STRAITS WHICH LIMITED VESSEL AVAILABILITY IN QUARTER.CAPITAL PRODUCT - LONG-TERM FUNDAMENTALS OF PRODUCT & CRUDE TANKER MARKET REMAIN STRONG IN VIEW OF UNDERLYING DEMAND, DECLINING ORDERBOOK, CHANGING REGULATORY ENVIRONMENT. 

Company Quote

10.69
-1.77636E-15 -0.00%
20 Sep 2019