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

People & Company News

Dool to Serve as Chair of SLSMC Board

The St. Lawrence Seaway Management Corporation (SLSMC) announced that Tim Dool has been named as Chair of the Board of Directors, effective September 1. Dool was

Bollore First Half Boosted by Transport, Advertising Unit

French industrial group Bollore said first-half operating income rose 11 percent to 314 million euro because of strength at its transport business and advertising agency Havas,

Scrap Metal Exporter Pens Terminal Agreement

Port Canaveral Scrap Terminal LLC (PCST), a bulk ferrous scrap exporter, has signed a lease with the Canaveral Port Authority to operate a terminal in the north cargo area at Port Canaveral.

Shipbuilding

MN 100: Horizon Shipbuilding, Inc.

13980 Shell Belt Road Bayou La Batre, AL 36509 E-mail: trshort@horizonshipbuilding.com Website: www.horizonshipbuilding.com President and General Manager: Travis R.

MN 100: Kvichak Marine Industries, Inc.

469 NW Bowdoin Place Seattle, WA 98107 Telephone: 206 545 8485 E-mail: sales@kvichak.com Website: www.kvichak.com CEO/President: Keith Whittemore Number of

MN 100: Guido Perla & Associates, Inc.

701 5th Avenue Seattle, WA 98104 Tel: (206) 768-1515  Email: Inga.Scholz@gpai.com Website: www.gpai.com President & CEO: Guido Perla The Company: With offices in the US,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.1967 sec (5 req/sec)