View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
August 8, 2010

Overseas Shipholding Q2 Loss Widens

Overseas Shipholding Group has reported a second-quarter net loss of $37.9m compared with an $8m loss in the corresponding quarter a year earlier. The US-based shipping company said the fall is due to a drop in the rates for medium-range ships and idle lightering vessels. The comp

By cms admin

Overseas Shipholding Group has reported a second-quarter net loss of $37.9m compared with an $8m loss in the corresponding quarter a year earlier.

The US-based shipping company said the fall is due to a drop in the rates for medium-range ships and idle lightering vessels.

The company, however, saw a year-over-year revenue rise to $283.9m from $282.7m.

For the six months ended 30 June, the company reported time charter equivalent revenues of $461.5m, a 15% decrease from $541.2m in 2009.

During the quarter Overseas Shipholding maintained nearly 70% of its fleet under spot, or single-voyage contracts, it said.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Ship Technology