are in the second quarter of 2007. Consensus estimates called for $1.63 per share. air freight Revenues jumped 104.6% to $156.9 million from $76.7 million in the year ago period. Voyage revenues totaled $128.7 million, up 113.1% from $60.4 million in air freight 2007. Cargo volume increased 52.7% and freight rates rose 37.6%, or $25.06 to $91.79 per ton compared to $66.73 per ton in the 2007 period. Paragon Shipping air freight Raises its Dividend on a Record Quarter On Aug 6, PRGN reported a record second quarter as net income for the quarter, excluding non-cash items, was 49 cents air freight per share compared to 45 cents per share i0,021 in the second quarter of 2007. The company said that the spot and period freight rate environment continued to be very strong, as tanker rates averaged levels not seen since the 1970s. However, Tsakos expects global growth to decelerate in the second half of 2008. Genco Secures air freight 94% of 2008 Fleet On July 30, Genco reported second quarter earnings that beat Wall Street estimates by 13.37%, or 23 cents per share. Net income was $58.3 million, or $1.95 per share compared to analysts’ estimates of $1.72 per share. Genco is set for 2008 as it has approximately 94% of the fleet’s available days secured on contracts. Additionally, it has 60% secured in 2009. GNK said it continues to renew vessels at attractive rates and to sign newly acquired vessels to charters prior to delivery. Like the other shippers, GNK saw its average daily time charter equivalent, or TCE, rates soar by 95% in the quarter to $40,945 per day compared to air freight $21,046 per day for the second quarter of 2007. TBS International Reports Its Second Record Quarter in a Row TBS International didn’t just have a great quarter, it h n the second quarter of 2007. This was an estimate surprise of 19.51%. Time charter revenue jumped 196% to $40.6 million from $13.7 million in the second air freight quarter of 2007. The company is bullish about 2008 as it has already fixed 100% of its fleet for the year. PRGN announced it raised its dividend 14.3% for the second quarter compared to the first as growth looks strong and time charter rates continue to be high. Do These Companies Sound Down and Out to You? Obviously, prior quarters are not indicative of future results. But the first six months of the year have been extremely bullish for the shipping sector. Full year estimates are rising on each of these companies and valuations are attractive. All four trade at under 10x forward earnings. TBS International has a forward P/E of only 4.16. TNP, GNK and PRGN also pay healthy dividends. Currently, Tsakos is yielding 5.30%, Genco 6.90% and Paragon 11.40%. Author’s Resource BoxTracey Ryniec is Vacation Information Author : John C. Submitted : 2009-03-03 13:46:28 Word Count : 524 Popularity: 20 Tags: Author RSS Feed Baltimore, Maryland is a vibrant American city situated along the Chesapeake Bay about 180 miles inland from the Atlantic Ocean. It is a major tourist destination in the Mid Atlantic region of USA near Washington, D.C. Named after Lord Baltimore in the Irish House of Lords, the city has a flourishing population of more than 650,000 with a rich cultural heritage. Spanning over an area of 80.8 square miles, the city is a perfect mixture of the old with the new. A few of the ethnic neighborhoods have been restored into modern shopping and dining locales but they still retain the old character. The major tourist attraction is the inner harbor. This historic seaport is an iconic landmark and perfect blend of the old with the new. The breathtaking view of the waterfront is simply amazing and the docks and streets surrounding the inner harbor houses, hotelsnal logistical services, warehousing & storage services, car carrier & transportation services, domestic & international courier services, postal & parcel services, etc. In fact, movers of Bangalore are dedicated to make any kinds of relocation take as challenge and handle them conveniently with no hassles at all. Entire process of relocation is done carefully and conveniently. For example, when it comes to pack your household goods on your home relocation, they pack your valuable goods with utmost care using packing supplies and materials of good quality. It is because proper pakers and movers Bangalore based companies are registered and licensed and hence they are reliable and accountable. They provide door to door moving services. They provide their customers an option to customize their services according to needs and budget. Thus it seems that moving companies of Banhttp://www.gfsforwarding.com/services-solutions/air-freight/