Omega Reports 2Q Results

Tuesday, August 26, 2008

Omega Navigation Enterprises Inc., reported second-quarter results that topped analysts' expectations, helped by higher charter rates and number of operating days of its Panamax tankers.

For the quarter, the company's net income more than doubled to $8 million, or 53 cents per basic share. Excluding a non-cash gain and a non-cash loss, Omega Navigation reported a net income of $5.7 million, or 38 cents per basic share.

Revenue rose 7 percent to $19.3 million.

Operating days of the Panamax tankers rose nearly 5 percent to 546, while the time charter equivalent rate grew by $33 to $25,050 per day. Interest expense and finance costs fell more than 33 percent to $3.2 million.

Source:  Reuters

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

Diana Shipping Nets 2Q Loss

Diana Shipping Inc. today reported a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015, compared to net loss of $5.

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

 
 
Maritime Careers / Shipboard Positions Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.1085 sec (9 req/sec)