Eitzen Chemical made a Q1 operating result before depreciation (EBITDA) of US$38.9m, up from US30.1m in Q4 2006 (4Q). The company says that the increased result reflects the first full quarter earnings, delivery of three vessels during the period, as well as improved market rates. The result is partly offset by sale of two vessels in Q4 and one vessel in Q1, 20 % increase in bunker prices, as well as one vessel being out of service during the entire period, as a result of conversion to double hull.
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