OMI RECOVERS FROM LAST YEARÆS LOSSES
OMI Corp. reported a net income of $53.1 million for the year ending Dec. 31, compared to a net loss of $80.3 million for the previous year.
OMI also reported fourth-quarter net income of $31.4 million, compared to a net loss of $42.8 million for the year-earlier quarter.
OMI chairman Craig H. Stevenson attributed the recovery to a turnaround in the energy service business in general and in the tanker segment in particular.
“Market fundamentals suggest that the energy service business should be strong for the next several years,” Stevenson said.