Shipping services provider OSG America LP (OSP) Tuesday announced financial results for the second quarter, reporting a net income of $4.9 million or $0.16 per unit.
Total shipping revenues for the second quarter were $72.2 million. Of this Time charter revenues were $36.6 million and Voyage charter revenues were $35.6 million.
On average, analysts polled by First Call/Thomson Financial projected earnings of $0.06 per share on revenues of $55.32 million.
Income from vessel operations for the second quarter was $5.6 million and operating income was $6.5 million.
Total operating expenses for the second quarter were $66.8 million and interest expense for the second quarter was $1.6 million.
For the six-month period, the company's net income was $8.7 million or $0.28 per share. Total shipping revenues for the first half were $135.3 million.
Shares of OSG America closed Tuesday's regular trading session at $12.60, up 23 cents or 1.86%.
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