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 March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Hapag-Lloyd, CSAV Merger Finalized

Hapag-Lloyd and CSAV binding agreement signed / In return for contributing its container business, CSAV becomes new core shareholder of Hapag-Lloyd / Hapag-Lloyd

MAS Debuts Exclusive Armor Systems

Following on from the continued success of the product, Marine Armor System (MAS) announced its global launch and updated website. MAS is a nonlethal vessel

All Items Approved at Stolt-Nielsen Meeting

Stolt-Nielsen Limited announced that all agenda items were approved and all nominated directors were elected at its Annual General Meeting of shareholders held yesterday in Bermuda.

Shipbuilding

Q-Max Floating Dock Launched

On March 21, 2014, senior management from N-KOM and Nakilat attended the launching and naming ceremony of N-KOM’s Q-Max sized floating dock at Hyundai Samho Heavy Industries in South Korea.

US Sens. Kaine and Reed Visit Newport News Shipbuilding

Huntington Ingalls Industries (HII) hosted U.S. Sens. Tim Kaine (D-Va.) and Jack Reed (D-R.I.) Tuesday for a tour of the company's Newport News Shipbuilding division.

Damen Launches Kuwait Oil Company’s New Tug

First of 14 ASD Tugs launched at Damen Shipyards Galati The Kuwait Oil Company’s (KOC) new ASD Tug 3212 was launched end of March at Damen Shipyards Galati, Romania.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Sonar
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: 0.1900 sec (5 req/sec)