Omega Navigation Announces Entering Into an Amendment of the Maturity Date

Friday, April 15, 2011

Athens, Greece, April 12, 2011 - Omega Navigation Enterprises, Inc. (NASDAQ:ONAV), a provider of Global Marine Transportation services specializing in product tankers, announces that it has reached an agreement with its lenders to amend the maturity date of both the current senior and junior loan facilities.

With this agreement the new maturity date will be May 10, 2011 on both facilities, amended from the current maturity date of April 12, 2011. About Omega Navigation Enterprises, Inc.

Omega Navigation Enterprises, Inc. is an international provider of global marine transportation services through the ownership and operation of double hull product tankers. The current fleet includes fifteen double hull product tankers, which includes seven that are owned through joint ventures with wholly owned subsidiaries of Glencore International AG, with an aggregate carrying capacity of 902,358 dwt., six of which are under fixed rate time charter contracts with an average age of the entire fleet of less than five years. In addition, the Company, through its joint venture Megacore, is scheduled to take delivery of 4 additional LR1 product carriers in 2011 and 2012. With the addition of these four vessels, Omega's fleet will expand to 19 product tankers with a total deadweight capacity of 1,198,358 dwt. The Company was incorporated in the Marshall Islands in February 2005. Its principal executive offices are located in Athens, Greece and it also maintains an office in the United States.

Omega Navigation's Class A Common Shares are traded on the NASDAQ National Market under the symbol "ONAV" and are also listed on the Singapore Exchange Securities Trading Limited under the symbol "ONAV 50."

Source: Omega Navigation 

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

Finance

Oil Deal Between Iraqi Kurdistan & Baghdad Welcomed

The United States welcomes an agreement between Iraq's central government in Baghdad and its northern Kurdistan region over the management of oil exports, U.

Nigeria to Cut Petrol Subsidy by Half

Nigeria plans to cut subsidies on petroleum products by half next year after sharp falls in global crude prices, spurred the government to revise its 2015 budget downwards,

Cost to Fuel Ships Falls

For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as $1 million a year if current price level stay put. Assuming

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair 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: 0.1268 sec (8 req/sec)