Trade Companies Announce Varied Financial Results for Quarter
Atlas Air Worldwide announced earnings for the second quarter of 2012 and reaffirmed guidance for full-year earnings of $30.9 million, compared with $23.8 million in the second quarter of 2011. Revenue totaled $424.7 million in the second quarter of 2012 and $349.6 million in the second quarter of 2011.
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Baltic Trading Ltd. had a net loss for the second quarter of 2012 of $3.7 million, vs. $0.4 million loss a year ago. Revenue decreased to $7.6 million for the three months ended June 30, 2012 compared to $9.9 million for the three months ended June 30, 2011 due to lower spot market rates achieved by its vessels during the second quarter of 2012.
Genco Shipping & Trading Ltd. said it had a net loss for the second quarter of $27.7 million, vs. a net loss of $10.1 million for the three months ended June 30, 2011. Revenue decreased to $62.1 million for the quarter, vs. $98.5 million a year ago.