Omega Navigation Enterprises, Inc. Announces Date for the Release of Fourth Quarter 2009 and First Quarter 2010 Results
30 Juin 2010 - 11:17PM
Marketwired
Omega Navigation Enterprises, Inc. (NASDAQ: ONAV) (SGX: ONAV50), a
provider of global marine transportation services focusing on
product tankers, announced today that the Company will release its
results for the fourth quarter and twelve months ended December 31,
2009 as well as the quarter ended March 31, 2010 on Friday, July 9,
2010.
About Omega Navigation Enterprises, Inc.
Omega Navigation Enterprises, Inc. is an international provider of
global marine transportation services through the ownership and
operation of eleven double hull product tankers. The current fleet
includes eleven double hull product tankers with a total carrying
capacity of 633,358 dwt, of which one double hull product tanker
built in 2009, with a capacity of 47,000 dwt, and two double hull
product tankers built in 2010, each with a capacity of 37,000 dwt.,
are owned through equal partnership joint ventures with a wholly
owned subsidiary of Glencore International, A.G. Furthermore, as
previously announced, the joint venture company has entered into
shipbuilding contracts with Hyundai Mipo Dockyard in South Korea,
to construct and acquire seven additional double hull product
tankers with a capacity of 74,000 dwt each scheduled for delivery
between October 2010 and early 2012.
The company has also entered into an equal partnership joint
venture agreement to purchase one newbuilding 47,000 dwt double
hull product tanker under construction at Hyundai Mipo Dockyard in
South Korea, scheduled to be delivered in the third quarter of
2010.
The Company was incorporated in the Marshall Islands in February
2005. Its principal executive offices are located in Athens, Greece
and it also maintains an office in the United States.
Omega Navigation's common shares are traded on the NASDAQ
National Market under the symbol "ONAV" and are also listed on the
Singapore Exchange Securities Trading Limited under the symbol
"ONAV 50."
Cautionary Statement Regarding Forward-Looking
Statements: Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Company desires to take advantage of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and is including this cautionary statement in connection with this
safe harbor legislation. The words "believe," "except,"
"anticipate," "intends," "estimate," "forecast," "project," "plan,"
"potential," "will," "may," "should," "expect" pending and similar
expressions identify forward-looking statements.
The forward-looking statements in this press release are based
upon various assumptions, many of which are based, in turn, upon
further assumptions, including without limitation, the Company's
management's examination of historical operating trends, data
contained in the Company's records and other data available from
third parties. Although the Company believes that these assumptions
were reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond the Company's
control, the Company cannot assure you that the Company will
achieve or accomplish these expectations, beliefs or
projections.
In addition to these important factors other important factors
that, in the Company's view, could cause actual results to differ
materially from those discussed in the forward-looking statements
include the strength of world economies and currencies, general
market conditions, including fluctuations in charter rates and
vessel values, changes in demand for product tanker and dry bulk
shipping capacity, changes in the Company's operating expenses,
including bunker prices, drydocking and insurance costs, the market
for the Company's vessels, availability of financing and
refinancing, changes in governmental rules and regulations or
actions taken by regulatory authorities, potential liability from
pending or future litigation, general domestic and international
political conditions, potential disruption of shipping routes due
to accidents or political events, vessels breakdowns and instances
of off-hires and other factors. Please see the Company's filings
with the Securities and Exchange Commission for a more complete
discussion of these and other risks and uncertainties.
Contacts: Company Contact: Gregory A. McGrath
Chief Financial Officer Omega Navigation Enterprises, Inc. PO Box
272 Convent Station, NJ 07961 Tel. (551) 580-0532 E-mail:
gmcgrath@omeganavigation.com www.omeganavigation.com Investor
Relations / Financial Media: Nicolas Bornozis President Capital
Link, Inc. 230 Park Avenue, Suite 1536 New York, NY 10169 Tel.
(212) 661-7566 E-mail: nbornozis@capitallink.com
www.capitallink.com
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