Eagle Bulk Shipping Inc (EGLE)

[Crumbster]

One would think that the BOLD line on this article about TRMD would relate also to EGLE, but I don't know if the tankers relate to the shippers


10:13 AM EDT, 05/08/2013 (MidnightTrader) -- Shares in Danish tanker group Torm AS (TRMD), listed on the Nasdaq, rocketed nearly 50% after the opening bell. It earlier posted Q1 results that showed its first return to quarterly operating profits since 2011, and it reported the best tanker freight rates in four years.
Torm, which faced possible bankruptcy until a restructuring and deal with creditors last year, posted a Q1 net loss of $16.3 million, much lower than the loss of $78.7 million for the same period last year and the loss of $580.6 million of the full year 2012.
The group reported a Q1 EBITDA of $36 million, its first operating profit since Q2 2011, swinging away from the loss of $7.1 million for Q1 last year and the operating loss of $194.5 million for 2012.
It said spot tanker rates on the various sized tankers were up between 20-30% or more in Q1 on the previous year.
Price: 1.86, Change: +0.61, Percent Change: +48.8
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