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

People & Company News

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Arctic Nations to Fight Climate Change Despite Russia Tensions

The eight Arctic Council nations pledged on Friday to do more to combat climate change that is shrinking the vast frigid region, with countries trying to put

Shipbuilding

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

Boatbuilding in China

While much of the focus on coverage of the Chinese shipbuilding industry is on big shipbuilding, Maritime Reporter switches gears this month to explore activities in select boatbuilding sectors.

HMS Prince of Wales Bridge Sets Sail

The bridge section of the second Queen Elizabeth Class aircraft carrier set sail today from Glasgow on its first sea voyage to Rosyth.   Upper Block 07 is where

 
 
Maritime Security Naval Architecture Navigation Pipelines Port Authority Salvage Ship Repair Ship Simulators Sonar 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: 0.2531 sec (4 req/sec)