the oil and gas and maritime industries, reported a second-quarter profit increase of 210 percent over last year's second quarter.

For the three months ended June 30, the Bermuda company made $6.2 million, or 99 cents per share, compared to $2 million, or 32 cents per share last year.

In the six months to June 30, the company reported net income of $5.5 million, or 88 cents per share, compared to $1.3 million, or 21 cents per share during the first six months last year.

During the quarter, the company realised income on its equity investment in Norex & Co. of $4.2 million compared to a loss of $2.1 million in first quarter. Norex & Co. owns a significant stake in NCL Holding ASA, parent of Norwegian Cruise Line Ltd.

At the company's June annual general meeting, shareholders voted to change the company's name from Norex America, Inc. to Norex Industries Inc.