PROFITS SOAR AT ANANGEL-AMERICAN

PROFITS SOAR AT ANANGEL-AMERICAN    Anangel-American Shipholdings Ltd., the dry bulk shipping company, reported a net profit of $9.8 million for the first half of the year, compared to a net loss of $13 million for the same period last year.
   Operating profit reached $11.8 million, compared with an operating loss of $4.9 million in the year-earlier period. Revenue increased to $46.7 million, from $28.8 million.
   “The shipping markets remained strong throughout the period,” a spokesman for the company said.
   For the three months ended June 30, net income was $5 million, compared to a net loss of $5.7 million for the corresponding period in 1999. Operating profit for the quarter was $7.5 million, compared to an operating deficit of $2.1 million a year earlier. Revenue was $26.1 million, up from $15.1 million.
   The company said that the expiry of a number of old charters in the third quarter, along with the securing of new fixtures for periods over six months, will provide an improving income stream for the company for the rest of this year.