THAT old trick again? Amortization of below market time charters? EXM did that for years and it
confused the heck out of the unwashed heathen that "invest" in these stocks without a clue. What the serious investor needs to look at as the MAIN income statement item is TCE. WHAT did each of their vessels EARN during the quarter on average. Looks like $7540 this quarter. Q1 2012 was more in the $13,000 per day range. This report is STUFFED so full of BULLSHEEEET that I can't wait to hear the unknowing tout the "great" numbers as "sign" of the bottom and subsequent turnaround in shipping.