Ocean Tankers Holdings plc returns to profit in 2006

Ocean Tankers Holdings plc, which sold shares for the first time in Cyprus in November, had a profit in 2006, rebounding from a loss in the second half of the previous year, as sales soared. Net income was US$2 million last year, the Nicosia-based company said yesterday in a filing to the Cyprus Stock Exchange. Ocean Tankers, which began operations at the end of June 2005, had a loss of US$1.1 million in the second half of 2005. Sales increased more than three-fold to US$9.8 million.