Ocean Tankers forecasts $20 mln 2008 profit Cyprus

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Ocean Tankers Holdings Plc (OCT.CY) management announced that its net profit for 2008 would reach USD 20 mln (with parity EUR:USD at 1.27) compared to 1.47 mln in 2007. During the first half of 2008, OCT recorded a net profit of USD 7.02 mln. Management also expects its book value in 2008 to increase to USD 115.5 mln from USD 60.2 mln a year ago.