OceanFreight Inc. is Today's Focus Stock on MicroStockProfit.com

/ Source: GlobeNewswire

DALLAS, Sept. 8, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring OceanFreight Inc. (Nasdaq:OCNF). 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:

OceanFreight Inc. (OCNF) is a global provider of shipping transportation services. The Company specializes in transporting drybulk cargoes, including such commodities as iron ore, coal, grain and other materials and crude oil cargoes through the ownership and operation of nine drybulk carriers and four tanker vessels. During the year ended December 31, 2006, the fleet of the Company consisted of eight Panamax and one Capesize drybulk carriers and three Aframax and one Suezmax tanker vessels with a total capacity of 1.2 million dead weight tons (dwt) and an average age of 13.9 years. 

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In the report, the analyst notes:

"For the second quarter ended June 30, 2010, Voyage Revenues amounted to $24.0 million and Operating Income amounted to $3.8 million. Net Loss amounted to $0.81 million or $0.01 basic and diluted loss per share. Adjusted EBITDA for the second quarter of 2010 was $6.7 million. An average of 11.6 vessels were owned and operated during the second quarter of 2010, earning an average Time Charter Equivalent, or TCE rate, of $23,812 per day.  

"OCNF president and COO Demetris Nenes yesterday presented at the 2nd Annual Capital Link Global Derivatives Forum in New York City on Tuesday, September 7, 2010; today the Company is holding investor meetings at the Jefferies 7th Global Shipping and Logistics Conference also in New York City."

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