Overseas Shipholding Group Reports Record First Half Results

Friday, August 08, 2003
Overseas Shipholding Group, Inc. reported $86 million of net income for the first six months of 2003, the highest earnings during the first six months of any year in the Company's history. Net income for the quarter ended June 30, 2003 was $41,840,000, or $1.21 per share, compared with net income of $3,670,000, or $0.11 per share, in the second quarter of 2002. Results for the second quarter of 2003 include a $2,178,000, or $0.06 per share, after tax gain from securities transactions versus a $4,269,000, or $0.12 per share, after tax gain from securities transactions in the prior year. Time charter equivalent revenues for the quarter were $120,297,000, almost double the $63,321,000 recorded in the same period last year, while operating income for the current quarter increased to $70,756,000 from $9,476,000 in the second quarter of 2002. Net income for the first six months of 2003 was $86,075,000, or $2.50 per share, compared with $4,414,000, or $0.13 per share, for the corresponding period of 2002. Results for the first six months of 2003 include a $3,574,000, or $0.10 per share, after tax gain from securities transactions. Results for the first six months of 2002 include a $4,008,000, or $0.12 per share, after tax gain from securities transactions. Time charter equivalent revenues were $241,427,000 in the first half of 2003 compared with $127,200,000 in the corresponding period of 2002, while operating income increased to $144,838,000 from $20,956,000 in the first half of 2002.
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Container Manufacturer Reports Profit Plunge

World-leading container manufacturer and logistics services provider Singamas Container Holdings Limited (Singamas) has  announced its unaudited interim results for the six months ended 30 June 2014.

Bid to Rescue Clyde Shipbuilder Ferguson

Jim McColl, one of Scotland's richest men, has tabled a bid to rescue collapsed Clyde shipbuilder Ferguson and aims to return the yard to its former glory by creating hundreds of jobs,

Scotland Site for World's Biggest Tidal Array

The world’s biggest tidal array is to be built in North Scotland bringing jobs and energy security to the Pentland Firth region, informs a UK Government news release.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar Winch
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: 0.1068 sec (9 req/sec)