Tidbits From “Freshly Minted” November 9th 2000

OMI INSIDER TRADE
OMI senior VP and Director Michael Klebanoff bought 20,000 shares of his company’s stock for $7.44 each on October 17th. The purchase cost Mr. Klebanoff $148,800 and is now worth $126,200, a net, though unrealized, loss of $22,600.

ELETSON HOLDINGS GOES PUBLIC, SORT OF
Just one week after the company’s 3Q conference call, Eletson Corporation announced that Eletson Holdings Inc., the company that issued US high yield bonds, has purchased two coated aframax newbuildings from affiliates of the company for an undisclosed sum of money. The strong tanker market improved Eletson’s EBITDA / debt service ratios which eased certain bond covenants that had prevented the transaction from occurring previously. By way of background, the ships were ordered at Hyundai about two weeks before Posidonia. Eletson still has three panamax vessels that reside outside the bond company.

This is only an excerpt of Tidbits From “Freshly Minted” November 9th 2000

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