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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 681.92

-0.7%

Dec 31 4:00 PM EST

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To: Johnny Canuck who wrote (42672)	9/26/2005 9:42:40 AM
From: Johnny Canuck	Read Replies (1) of 69358

07:25 OMM OMI Corp announces vessel sale, new time charter, dispute settlement and new policy on tanker rate disclosure (18.19 ) Co announced that it has agreed to sell the SABINE vessel. The vessel is expected to be delivered in the 4Q05, at which time the co will recognize a gain on the sale of approximately $27.5 mln or $0.33 basic EPS. The co has entered into a time charter agreement for the vessel THAMES, for one year commencing in October 2005. The time charter will add approximately $10.8 mln to the contracted revenue of the co, most of which will be received in 2006. OMM also announced that its arbitration dispute relating to the failed delivery to it of a Suezmax tanker in August, 2004 has been settled, and there is no material affect on the co resulting from the settlement. The co also announced that in order to provide better current information to investors, it adopted a new policy with respect to announcing rates being achieved by its vessels.

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