OMEGA
Reports 9 months net income of USD 15.4m
NOV, 18.2008
Omega Navigation Enterprises Inc., listed on Nasdaq (George Kassiotis, President & CEO), for the quarter ended September 30, 2008, reported total revenues of USD 19.5m and net income of USD 5.2m, or USD 0.34 per basic share (including a loss on its interest rate derivative instruments, a gain on warrants revaluation and incentive compensation grants). EBITDA for the 3rd Q of 2008 was USD 14.8m. The company owned and operated an average of 8 product carriers, the same number as in the 3rd Q of 2007.
For the 9 months ended September 30, 2008, Omega Navigation reported total revenues of USD 57.6m and net income of USD 15.4m, or USD 1.01 per basic share. EBITDA was USD 40.1m. The company owned and operated an average of 8 product carriers, compared to 7.3 product carriers during the first 9 months of 2007.
Omega Navigation is a provider of global marine transportation services focusing on product tankers, with a current fleet of 8 double hull vessels, with an aggregate carrying capacity of 512,358 dwt. All vessels are employed under time charters having a minimum contracted term of 3 years, chartered to established charterers including Norden, ST Shipping(Glencore) and Torm.
