1061571--3/15/2006--OMI_CORP/M

related topics

{condition, economic, financial}

{gas, price, oil}

{tax, income, asset}

{cost, regulation, environmental}

{stock, price, share}

{regulation, change, law}

{system, service, information}

{operation, natural, condition}

{personnel, key, retain}

{cost, contract, operation}

{control, financial, internal}

{provision, law, control}

{investment, property, distribution}

{competitive, industry, competition}

{interest, director, officer}

{loss, insurance, financial}

{cost, operation, labor}

THE NATURE OF OUR BUSINESS AND OUR FLEET MAKES OUR OPERATIONS DEPENDENT UPON FLUCTUATIONS IN THE OIL AND PETROLEUM PRODUCTS MARKETS THE INTENSE COMPETITION AND POTENTIAL FINANCIAL RESOURCES OF OUR COMPETITORS COULD AFFECT OUR MARKET POSITION AN INCREASE IN THE SUPPLY OF TANKER CAPACITY WITHOUT AN INCREASE IN DEMAND FOR TANKER CAPACITY WOULD LIKELY CAUSE CHARTER RATES TO DECLINE, WHICH COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR REVENUES AND PROFITABILITY OUR EXPOSURE TO THE SPOT MARKET COULD CAUSE OUR RESULTS OF OPERATIONS TO MATERIALLY DECLINE OPERATION OF TANKERS CARRIES INHERENT RISKS THAT MAY NOT ALL BE COVERED BY INSURANCE WE ARE SUBJECT TO POLITICAL AND OTHER RISKS THAT MAY AFFECT CHARTER RATES AND OUR VOYAGES ENVIRONMENTAL REGULATIONS EXPOSE US TO LIABILITY, AND COMPLIANCE WITH SUCH REGULATIONS COULD REQUIRE SIGNIFICANT EXPENDITURES AND AFFECT OUR CASH FLOW AND NET INCOME SEASONAL VARIATIONS IN OPERATING RESULTS AND SIGNIFICANT CHANGES IN CHARTER RATES MAY AFFECT OUR REVENUES AND PROFITABILITY ADDITIONAL LAWS AND REGULATIONS MAY LIMIT OUR ABILITY TO DO BUSINESS OR INCREASE OUR COST TO DO BUSINESS BECAUSE THE MARKET VALUE OF VESSELS MAY FLUCTUATE SIGNIFICANTLY, WE MAY INCUR LOSSES WHEN WE SELL VESSELS, WHICH COULD ADVERSELY AFFECT OUR FINANCIAL RESULTS OUR VESSELS COULD BE ARRESTED BY MARITIME CLAIMANTS, WHICH COULD RESULT IN A SIGNIFICANT LOSS OF EARNINGS AND CASH FLOW FOR THE RELATED OFF-HIRE PERIOD TERRORIST ATTACKS, INCREASED HOSTILITIES OR WAR COULD LEAD TO FURTHER ECONOMIC INSTABILITY, INCREASED COSTS AND DISRUPTION OF OUR BUSINESS WE MAY BECOME SUBJECT TO U.S. FEDERAL INCOME TAXATION ON OUR U.S.-SOURCE SHIPPING INCOME WE DEPEND ON OUR KEY PERSONNEL AND MAY HAVE DIFFICULTY ATTRACTING AND RETAINING SKILLED EMPLOYEES WE MAY FACE UNEXPECTED DRYDOCK COSTS FOR OUR VESSELS WE MAY NOT BE SUCCESSFUL MAINTAINING OUR BUSINESS WE MAY NOT BE ABLE TO RENEW TIME CHARTERS WHEN THEY EXPIRE THE MARKET PRICE OF OUR COMMON STOCK MAY BE VOLATILE WE MAY ISSUE PREFERRED STOCK WHOSE TERMS COULD ADVERSELY AFFECT THE VOTING POWER OR VALUE OF OUR COMMON STOCK PROVISIONS IN OUR CORPORATE DOCUMENTS COULD DELAY OR PREVENT A CHANGE IN CONTROL OF OUR COMPANY, EVEN IF SOME OF OUR STOCKHOLDERS BELIEVED IT WOULD BE BENEFICIAL OUR INFORMATION TECHNOLOGY SYSTEMS ARE CRITICAL TO OUR BUSINESS AND A FAILURE OF THOSE SYSTEMS COULD MATERIALLY HARM OUR BUSINESS FAILURE TO ACHIEVE AND MAINTAIN EFFECTIVE INTERNAL CONTROLS IN ACCORDANCE WITH SECTION 404 OF THE SARBANES-OXLEY ACT COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR BUSINESS, STOCK PRICE AND INCREASE OUR COSTS WE ARE NOT A U.S. CORPORATION, AND THE HOLDERS OF SECURITIES MAY BE SUBJECT TO THE UNCERTAINTIES OF A FOREIGN LEGAL SYSTEM IN PROTECTING THEIR INTERESTS IT MAY NOT BE POSSIBLE FOR OUR INVESTORS TO ENFORCE U.S. JUDGMENTS AGAINST US

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1061571--3/15/2006--OMI_CORP/M_I