13 cents a share, in unaudited results for the second quarter to June 30.

It represents a 142 percent improvement over the $446,000 in earnings posted for the second quarter of 1996.

But it brought combined first half earnings up 37 percent to $965,000 or 12 cents a share, compared with $704,000 or nine cents per share for the first half of 1996.

Chairman and CEO S.E.N. Pollock said spot market freight rates had improved during the second quarter as a result of increased oil export activity from the Caribbean area.

Three vessels had been employed on time charter during the period and three had operated mainly on the spot market, primarily in the Caribbean, North and South American trades.

BUSINESS BUC