denly in disfavor and Wall Street fears a greater global slowdown that will likely freight companyimpact shipping rates and volumes. Fortunately, all four of these freight companycompanies recently gave insight into the shipping sector when they reported quarterly earnings. Each one had a great quarter and was bullish about the rest of 2008 as the time charter rates and spot rates continue to rise compared with freight company2007. Tsakos Energy Reports a Record Quarter Tsakos Energy reported second quarter earnings on Aug 1 that easily beat Wall Street estimates by 32%. Net income jumped 84.5% to $69.20 million, or $1.82 per share, from $37.52 freight companymillion, or 98 cents per share, in the second quarter of 2007. Analysts expected $1.38 per share. Revenues jumped 36.8% to $146.64 million from freight company$107.22 million in the year ago period as time charter equivalent rates rose to $39,512 per day per ship compared to $30,021 in the second quarter of freight company2007. 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 94% of 2008 Fleet On July 30, Genco reported second freight companyquarter 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 freight companynewly 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 $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 had the best quarter in the company’s history. Net income rose 142.4% to $52.6 million, or $1.82 per share, compared to $21.7 million, or 77 cents per share in the second quarter of 2007. Consensus estimates called for $1.63 per share. 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 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 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 per share compared to 45 cents per share in 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 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 an Editor at Zacks Investment Research . For more information please visit freight companyBangalore Movers And Packers 每 Relocation Made Easy   Author : santosh ets Submitted : 2010-04-11 23:26:38    Word Count : 572    Popularity:   33 Tags:   bangalore packers movers, packers movers bangalore, bangalore packers and movers   Author RSS Feed Bangalore is an important city in India. It is the state capital of Karnataka. There are many removal companies in Bangalore helping people of Bangalore greatly with their quality packing and moving services. Movers of Bangalore are engaged in offering a wide range of moving services at very affordable rate. These days also the moving companies of Bangalore are getting their fame rapidly like a wildfire with their various moving services, pundiscount offer by the comhttp://www.gfsforwarding.com/