Emitents | Latvijas kuģniecība, AS (48510000VYR04HZGC213) |
Veids | Finanšu pārskati |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2012-05-31 08:25:50 |
Versijas komentārs | |
Teksts |
In the first quarter of 2012, the JSC Latvian Shipping Company (hereafter – LSC) Group (NASDAQ OMX RIGA: LSC1R) has succeeded to increase the profit from operating activity of ships by 6%. The profit from ship activity in the first quarter of 2012 was 6.609 million lats, compared to the first quarter of 2011 where it was 5.979 million lats. The company’s
gross profit has increased as well – in the first quarter of 2012
it was 3.181 million lats, which is 22% more than in the same
period a year ago (2.605 million lats). Net profit of the LSC Group
has been negative, namely, the company had net losses of 9.1
million lats in the first quarter. Most of the losses – 8.3 million
lats – are related to impairments in the value of the fleet as
required by International Accounting Standards. The decrease in
fleet value in the first quarter of 2012 directly reflects the
difficulties that all ship owners have to face in the current
financial situation. “The economic
climate continues to be challenging for all ship owners, but the
product tanker market, which is LSC niche business, has been
more resilient than
other segments of the tanker industry in Q1/2012,” explains Simon
Blaydes, chairman of the LSC Management
Board. The average
charter rates for “handy” size tankers (LSC owns 7 “handy” size
tankers, each with a deadweight 37 thousand tons) have increased
considerably in the first quarter of 2012. In the first quarter of
2011 these were 11’138 USD per day, but in the first quarter of
2012 the average charter rates for “handy” size tankers increased
by 16.7% and were 13’003 USD per day. The charter rates for medium
size tankers (12 MR type tankers with deadweight 52 thousand tons)
and one “panamax” type tanker (deadweight 68 thousand tons) have
had minimal change in the first quarter of 2012
. On March 31,
2012, the total value of the LSC Group’s assets was 333 million
lats. The total value of the LSC Group’s fleet has increased from
277.4 million lats to 289.8 million lats, which is attributable to
the fact that the ships that were previously classified as assets
for sale have been included in the fleet.
About JSC Latvian
Shipping Company (Latvijas kungnieciba)
In the
medium-sized and handy tankers category JSC Latvian Shipping
Company
(NASDAQ OMX RIGA: LSC1R) is among
the leading ship owners in the world, and in terms of transport
volumes of petroleum products it is also in a leading position
among similar companies in Northern Europe. The company owns 20
modern ships,
employing more than 700 professional and highly qualified seamen
from Latvia. The total carrying capacity of the LK fleet is
957 974 DWT
and the average
age of the fleet does not exceed 5.5 years. All ships have received
ISM (International Safety Management)
certificates.
Ilze Nagla |
Pielikumi |