DUBAI  Nike Air Force 1 Mid 07 White Black 315123-114 UK Sale , Sept. 23 (Xinhua) -- An Abu Dhabi fund and Comoros signed a deal Saturday on a grant worth 40 million dirham (10.89 million U.S. dollars) to finance the Comoros power grid project, official WAM news agency reported.

The Abu Dhabi Development Fund (ADFD) and the Comoros government on Saturday signed a memorandum of understanding (MoU) on the Abu Dhabi government grant, the report said.

The agreement was signed by Mohammed Seif Al-Suwaidi, Director General ADFD and Sayyed Ali Syed Sheikhan, Minister of Finance and Budget of the Comoros Islands, at the headquarters of the fund.

"The project provides 11 megawatts of electricity and aims at supporting the economy of the Comoros by establishing an advanced electric network that will increase the efficiency of energy production and enhance its ability to support diverse economic sectors and overcome the most important development challenges  Women's Nike Air Force 1 High Blue 321813-411 UK Sale ," said the WAM report.

Al Suwaidi said "the UAE has close ties with the Comoros and the grant from the government of Abu Dhabi is in line with the directives of His Highness Sheikh Khalifa bin Zayed Al-Nahyan, President of the UAE.

He pointed out that the grant allocated by the government of Abu Dhabi to support the electricity sector "will improve the electricity supply in the Comoros and thus improve the living conditions of the population, he said.

According to WAM, the activity of the ADFD in the Comoros goes back to 1979, when the fund provided finance for five development projects with a total value of 69 million dirhams (18.80 million dollars), covering transport  Nike Air Force 1 Low Blue Men's 488298-414 UK Sale , education, health and electricity sector.

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Investing in the shipping sector has not been for the faint of heart recently. As commodities have lost their luster, so have the industries that are lumped in with them, such as the shippers  Men's Nike Air Force 1 Low Green 488298-305 UK Sale , the fertilizers, and large industrial mining equipment manufacturers.
These 4 shippers are all Zacks #1 Rank (Strong Buy) stocks: Tsakos Energy & Navigation (TNP), Genco Shipping (GNK), TBS International (TBSI), and Paragon Shipping (PRGN). Yet investors have shown their love by selling off all four stocks.
Tsakos Energy, a crude shipper  Men's Nike Air Force 1 Low Black 488298-033 UK Sale , is down 17% from its 52-week high. Genco, which ships drybulk cargo, has fallen 35%. Paragon, another drybulk shipper, lost 49%.
It's more of the same for TBS International, a drybulk shipper that specializes in smaller ships that can service hard to reach ports  Nike Air Force 1 HI Black Gold 386152-001 UK Sale , as its shares have dropped 58% over the last 52 weeks.
Are These Stocks Like the Titanic?
Coming on the heels of these sharp sell-offs, are the shipping stocks a juicy value play or a value trap? Commodities are suddenly in disfavor and Wall Street fears a greater global slowdown that will likely impact shipping rates and volumes.
Fortunately, all four of these companies recently gave insight into the shipping sector when they reported quarterly earnings. Each one had a great quarter and was bullish about the rest of 2008 as the time charter rates and spot rates continue to rise compared with 2007.
Tsakos Energy Reports a Record Quarter
Tsakos Energy reported second quarter earnings on Aug 1 that easily beat Wall Street estimates by 32%. Net income jumped 84.5% to $69.20 million, or $1.82 per share, from $37.52 million, or 98 cents per share  Nike Air Force 1 Mid 07 Black 315123-001 UK Sale , in the second quarter of 2007. Analysts expected $1.38 per share.
Revenues jumped 36.8% to $146.64 million from $107.22 million in the year ago period as time charter equivalent rates rose to $39,512 per day per ship compared to $30,021 in the second quarter of 2007.
The company said that the spot and period freight rate environment continued to be very strong, as tanker rates averaged levels not seen since the 1970s. However, Tsakos expects global growth to decelerate in the second half of 2008.
Genco Secures 94% of 2008 Fleet
On July 30, Genco reported second quarter earnings that beat Wall Street estimates by 13.37%  Women's Nike Air Force 1 High Burgundy 706653-600 UK Sale , or 23 cents per share. Net income was $58.3 million, or $1.95 per share compared to analysts' estimates of $1.72 per share.
Genco is set for 2008 as it has approximately 94% of the fleet's available days secured on contracts. Additionally, it has 60% secured in 2009. GNK said it continues to renew vessels at attractive rates and to sign newly acquired vessels to charters prior to delivery.
Like the other shippers, GNK saw its average daily time charter equivalent, or TCE, rates soar by 95% in the quarter to $40  Men's Nike Air Force 1 Low 07 LE Burgundy 315122-610 UK Sale ,945 per day compared to $21,046 per day for the second quarter of 2007.
TBS International Reports Its Second Record Quarter in a Row
TBS International didn't just have a great quarter, it had the best quarter in the company's history. Net income rose 142.4% to $52.6 million, or $1.82 per share, compared to $21.7 million, or 77 cents per share in the second quarter of 2007. Consensus estimates called for $1.63 per share.
Revenues jumped 104.6% to $156.9 million from $76.7 million in the year ago period. Voyage revenues totaled $128.7 million  Women's Nike Air Force 1 Low GS Pink 314219-602 UK Sale , up 113.1% from $60.4 million in 2007.
Cargo volume increased 52.7% and freight rates rose 37.6%, or $25.06 to $91.79 per ton compared to $66.73 per ton in the 2007 period.
Paragon Shipping Raises its Dividend on a Record Quarter
On Aug 6, PRGN reported a record second.  Cheap Baseball Hoodies    Cheap College Hats    Cheap Authentic Jerseys    Cheap Replica Jerseys    Cheap Replica Jerseys    Cheap Jerseys China Wholesale    Cheap College Jerseys Online    Cheap Replica NHL Jerseys    Cheap NFL Jerseys Free Shipping    Cheap Replica NBA Jerseys