DALLAS, Feb. 5, 2010 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring Excel Maritime Carriers Ltd. (NYSE:EXM). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.stockpreacher.com/n/EXM
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Excel Maritime Carriers Ltd. (EXM) is a provider of worldwide sea borne transportation services for dry bulk cargo, including among others, iron ore, coal and grain, collectively referred to as major bulks, and steel products, fertilizers, cement, bauxite, sugar and scrap metal, collectively referred to as minor bulks. EXM's fleet is managed by one of its wholly owned subsidiaries, Maryville Maritime Inc. (Maryville).
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In the report, the analyst notes:
"The third-quarter 2009 results include a non-cash unrealized interest-rate swap loss of $1.8 million compared to an unrealized interest-rate swap loss of $6.7 million in the corresponding period in 2008. Net income, excluding the above items, for the third quarter of 2009 would amount to $63.8 million or $0.81 per weighted average diluted share compared to respective income for the third quarter of 2008 of $124.3 million or $2.81 per weighted average diluted share.
"EXM announced in late November that it has entered into two new charter agreements for the M/V Renuar and the M/V Elinakos. The M/V Renuar, a 1993 built Panamax bulk carrier with a carrying capacity of 70,128 dwt, has entered into a charter agreement for a minimum period of 12 months to a maximum period of 14 months at the gross daily rate of $22,500. The M/V Elinakos, a 73,751 dwt, 1997-built Panamax bulk carrier, has entered into a short term charter agreement for a period of a minimum of 4 months to a maximum of six months at a gross rate of $25,000 per day."
To read the entire report visit: http://www.stockpreacher.com/n/EXM
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