Revenues benefit from a favorable shipping environment. Revenues rose 55% to $136.2 million, slightly above our forecast of $133.8 million. EBITDA of $58.0 million, up 181%, was slightly below our $60.4 million estimate due to higher operating costs. Net income for the quarter was $41.9 million ($0.97 per share) versus $2.0 million ($0.05) last year, slightly below our estimate of $44.0 million ($1.03). Management is making good use of higher cash flow. The company took delivery of two vessels in the quarter, reduced debt by $48.75 million and raised the quarterly dividend 18% to $0.79 per share (14% yield). Read More >>