OMI Reports 2Q Results

Thursday, July 27, 2006
OMI Corporation reported a record Net Income of approximately $131.8m or $1.92 basic and diluted EPS, which included Gain on Disposal of Vessels of $78m or $1.14 basic and diluted EPS for the second quarter ended June 30, 2006, compared to Net Income of $47m or $0.56 basic and diluted EPS for the second quarter ended June 30, 2005. For the six months ended June 30, 2006, Net Income was $195m or $2.80 basic and diluted EPS, which included Gain on Disposal of Vessels of $78m or $1.12 basic and diluted EPS, compared to Net Income of $123m or $1.45 basic and diluted EPS for the six months ended June 30, 2005, which included Gain on Disposal of Vessels of $3m or $0.03 basic and diluted EPS. Revenue of $183m for the second quarter ended June 30, 2006 increased $35m or 23 percebt compared to revenue of $144m for the second quarter ended June 30, 2005. Revenue of $376m for the six months ended June 30, 2006 increased $57m or 18 percent compared to revenue of $320m for the six months ended June 30, 2005. The revenue from product carriers increased primarily due to more operating days from vessels acquired and higher rates. The revenue from Suezmax vessels increased because of the additional vessels in Gemini Suezmax Pool, which was offset by the two Suezmax vessels sold in the fourth quarter of 2005.
Maritime Reporter September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

More German Shipowners Look to Gibdock for Repairs

Gibdock remarks it has continued to see its stock rise amongst the German shipowner community over the past year. Indeed the Gibraltar ship repair yard’s recent

No Sign of Ultra-Large Containership Mega Hubs: Analysis

Contrary to the views of some in the industry, Ultra Large Container Vessels are continuing to call at multiple North European ports per loop and are not concentrating on a mega-hub,

Wärtsilä Reshuffles Two Top Managers

The following appointments have been made in the management inform Wärtsilä Corporation: Mr Rakesh Sarin (59), B.Sc. (Eng.), has been appointed President of Power Plants,

Shipbuilding

New Superyacht ROCKIT.IT Launched by Feadship

Feadship says it has launched the outstanding 60.35-metre motoryacht ROCK.IT. Created for an experienced owner who has chartered Feadships and appreciated the essence of the brand,

FTA Approves WSF Ferry Terminal Plans

In the latest Washington State Ferries Weekly Update, Capt. George A. Capacci, Interim Assistant Secretary WSDOT/Ferries Division briefs as follows: "FTA approves

MARAD Shipbuilding Loan Guarantee

The launch of the Bravante IX, built in a U.S. shipyard, was from the investments made by the Maritime Administration (MARAD) just three years ago. The investment

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1297 sec (8 req/sec)