TIL Posts Record Earnings in Q4

first_imgzoom Oslo-listed Tanker Investments Ltd. posted record earnings in the fourth quarter of 2015, the company said in its earnings guidance for the three months ended December 31, 2015.According to William Hung, Tanker Investments’ Chief Executive Officer, the earnings were driven by a fully operational fleet and firm spot tanker rates as a result of strong tanker fundamentals.In addition, high crude oil supply from OPEC, low oil prices, positive tanker supply fundamentals, ongoing strategic and commercial stockpiling and high refinery throughout also contributed to the success.For the fourth quarter of 2015, Tanker Investments expects to report net income in the range of USD 0.77 to USD 0.81 per share.In addition, the company’s board of directors has authorized a new share repurchase program to repurchase up to USD 60 million of the company’s common stock.Through the share repurchase program, which is effective immediately and will be valid for an initial period of one year, Tanker Investments said it expects to repurchase shares in the open market at times and at prevailing market prices on the Oslo Stock Exchange considered to be appropriate by the company.“Over the past 15 months, we returned a substantial portion of the cash flow generated to shareholders through the repurchase of approximately USD 60 million of the company’s stock and today the Board announced the implementation of a new USD 60 million share repurchase program, the majority of which will be funded with the net equity proceeds received from the recent sale of our two VLCC tankers,” he added.Tanker Investments’ fleet consists of 18 modern tankers.last_img read more

Got €86 million to spare You could have this Park Avenue apartment

first_img A former executive at the investment management firm Sanford C. Bernstein is putting her Park Avenue apartment up for sale.Marilyn Fedak, Sanford Bernstein’s former chief investment officer and executive VP, and her husband Dr. Michael Fedak, are selling their home after 17 years. According to the New York Times, Mr. and Mrs. Fedak decided to sell after spending much more time in Boca Raton and Greenwich, than in the New York penthouse.The Fedaks will keep a smaller apartment in the same building, which they bought in 2003.The penthouse for sale is a 3 bedroom, 2.5 bath apartment that rings up to $11.5 million (€8.6 million). It includes 3,300 square feet of indoor space, and a 3,000 square feet rooftop terrace. Located at 655 Park Avenue on the Upper East Side, the apartment terrace has a beautiful view of the New York City skyline.The apartment’s lower level welcomes guests in with a grand reception gallery, with wet bar and powder room. Source: BusinessinsiderWith three bedrooms in the apartment, the Fedaks use one for a study, and the other as a library. The Pixel watch that never was: An inside look at how Google’s smartwatch efforts beat Apple to the punch, but then broke down and never recovered (GOOG, GOOGL) A car plowed through the main hall of Trump Plaza in New Rochelle, New York The US is building a case against Iran in the attacks on Saudi Arabia, but Trump is in no rush to act center_img SpaceX is trying to buy a hamlet inside its Texas rocket-launch site because it ‘did not anticipate’ there’d be any ‘significant disruption’ to residents who live there Source: BusinessinsiderThe master suite takes up the entire 10th floor. Source: BusinessinsiderThe library includes mahogany bookshelves and window frames. Source: BusinessinsiderThe 11th floor private terrace was professionally designed and landscaped. Source: BusinessinsiderThe terrace has a wet bar, dining area, and lots of greenery. Source: BusinessinsiderSpanning over 3,000 square feet, it provides a beautiful view of the city. Source: BusinessinsiderRead: This Manhattan ‘Sky Loft’ is on the market for $48 million. Want to see inside?last_img read more