After Months of Stormy Seas, Dry Bulk Shippers Find Optimism

An upgraded powere DryShips (NASDAQ: DRYS - News) this morning, and investors eyed weather forecasts as fall harvest approaches. Reuters. The company also announced that it reached waver terms for $183 million in debt, leaving it with just $187.5 million outstanding. DryShips CEO George Economou said the company is in "constructive discussions with the banks" and he expects to "have those concluded shortly." Investors like the news, sending shares up by 7% ahead of the bell.Meanwhile, other components of the Dry Bulk Shipping Stocks Index are set to benefit from what could be a record agricultural harvest in 2009.RealMoney.comBloomberg, rains and below-freezing temperatures could weigh on mid-western crops. Investors will be keeping an eye on weather forecasts for their impact on commodity prices and their potential to limit dry bulk demand.Most of the dry bulk sector is positive over the last week, but many stocks are still recovering from big declines earlier in the last month. OceanFreight (NASDAQ: OCNF - ...
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Trading Outlook for OceanFreight Inc. Issued by InvestorSoup.com

DALLAS, Oct. 28, 2009 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring OceanFreight Inc. (Nasdaq:OCNF - News). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision. The investment report on OceanFreight Inc. (Nasdaq:OCNF - News) should be of particular interest to other shipping companies: United Parcel Service Inc. (NYSE:UPS - News), Japan Post Holding Co. Ltd. (Pink Sheets:TNTTY - News), FedEx Corp. (NYSE:...
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OceanFreight Inc. Announces Date for the Release of Third Quarter 2009 Results, Conference Call and Webcast

ATHENS, GREECE--(Marketwire - 11/03/09) - OceanFreight Inc. (NASDAQ:OCNF - News), a global provider of seaborne transportation services, today announced that it will release its results for the third quarter ended September 30, 2009 after the close of the market in New York on Tuesday, November 10th, 2009. On Wednesday, November 11th, 2009 at 8:30 A.M. Eastern Standard Time EST, the Company's management will host a conference call to discuss the results. Conference Call details:Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1 866 819 7111 (US Toll Free Dial In), 0800 953 0329 (UK Toll Free Dial In) or +44 (0) 1452 542 301 (Standard International Dial In). Please quote "OceanFreight."A telephonic replay of the conference call will be available until November 18th, 2009 by dialing 1 866 247 4222 (US Toll Free Dial In), 0800 953 1533 (UK Toll Free Dial In) or +44 (0) 1452 550 000 (Standard International Dial In). Access Code: 7445162#.Slides and audio webcast:There will also be a simultaneous live webcast over the Internet through the OceanFreight Inc. website (www.oceanfreightinc.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.About OceanFreight Inc.OceanF...
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Q3 2009 OCEANFREIGHT INC Earnings Release - Time Not Supplied

Earnings Announcements for Tuesday, November 10CompanySymbolTimeConferenceCallAareal Bank AGARL.FTime Not SuppliedACROSSASIA LIMITED8061.HKTime Not SuppliedADVENTRX PHARMACEUTICALS INCANXTime Not SuppliedAEROPORTO DI VENEZIA MARCO POLO SPA (SAVE)SAVE.MITime Not SuppliedAgFeed Industries, Inc.FEEDTime Not SuppliedAirMedia Group Inc.AMCNAfter Market CloseListenAKM INDUSTRIAL CO LIMITED8298.HKTime Not SuppliedAkorn, Inc.AKRXBefore Market OpenALIBABA.COM LTDALBCF.PKTime Not SuppliedListenAMB Generali Holding AGGE1.FTime Not SuppliedAmeriana BancorpASBIBefore Market OpenAmerican ApparelAPPBefore Market OpenAnthracite Capital, Inc.AHRTime Not SuppliedARKEMAAKE.PA01:30 am ETArtificial LifeALIF.OBBefore Market OpenArvinMeritor, Inc.ARMBefore Market OpenListenASIA TIGER GROUPA7...
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New Star Analyst Rankings for OceanFreight Inc.

Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Copyright © 1999-2003, StarMine Corp. All rights reserved.StarMine Corp. derives analyst ratings from estimate and recommendation data supplied by Thomson Financial.Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data, daily updates, fund summary, fund performance, dividend data and...
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OceanFreight Inc. Reports Financial Results for the Third Quarter 2009

ATHENS, GREECE--(Marketwire - 11/10/09) - OceanFreight Inc. (NASDAQ:OCNF - News), a global provider of marine transportation services, today announced its financial results for the quarter ended September 30, 2009. Financial HighlightsFor the three-month period ended September 30, 2009, the Company reported Net Loss of $13.3 million or basic and diluted loss per share of $0.15. Included in these results are:� -- A book loss of approximately $20.8 million associated with the sale of the M/V Richmond which was delivered to the new owners on September 30, 2009. -- A loss of $2 million associated with the change in fair value of interest rate swaps. Excluding the above items Net Income for the third quarter of 2009 would be $9.5 million or $0.11 per share.Anthony Kandylidis, the Company's President and Chief Executive Officer, commented:"Excluding the one off charges due to the sale of an older panamax vessel, our net income on an operating basis would have been about 11 cents per share, well above analyst expectations. OceanFreight is very privileged not to have any capital commitments at this time. With our proven access to capital and our track record of sourcing modern high quality tonnage with fixed employment we continue to renew our fleet and enhance the longevity of our cash flows. As of the day of this press release we have secured gross revenues of $115 million until the end of 2010 with 92% fleet charter coverage for the remainder of 2009 and 72% for 2010. We remain ...
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OceanFreight Inc. to Present at the Oppenheimer 4th Annual Industrials Conference

ATHENS, GREECE--(Marketwire - 11/13/09) - OceanFreight Inc. (NASDAQ:OCNF - News), a global provider of marine transportation services, today announced that Mr. Demetris Nenes, Vice President of OceanFreight, will be presenting at the Oppenheimer 4th Annual Industrials Conference in New York City on Tuesday, November 17, 2009. A PDF version of the slide presentation will also be available on the OceanFreight Inc. corporate website at www.oceanfreightinc.com in the Investor Relations section.About OceanFreight Inc.OceanFreight Inc., is an owner and operator of both dry bulk and tanker vessels that operate worldwide. As of the date of this release, OceanFreight owns a fleet of 12 vessels, comprised of 8 dry bulk vessels (2 Capesize, 6 Panamaxes) and 4 crude carrier tankers (1 Suezmax, 3 Aframaxes) with a combined deadweight tonnage of about 1.22 million tons.The company has agreed to acquire two Capesize dry bulk vessels and upon the delivery of these vessels to OceanFreight, its fleet will consist of 14 vessels, comprised of 10 dry bulk carriers (4 Capesizes, 6 Panamaxes) and 4 tankers (1 Suezmax, 3 Aframaxes) with a combined deadweight tonnage of approximately 1.6 million tons.OceanFreight Inc.'s common stock is listed on the NASDAQ Global Market where it trades under the symbol "OCNF." Visit our website a...
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