The armament Italian Premuda Spa completed the first half of 2011 with a net loss of euro 833mila Time charter revenues to 53.1 million euros compared to a profit of 6.8 million euros of revenues for 58 Time charter , 8 million euros in the first half of last year. The operating result amounted to EUR 3.7 million (-58%).
The company said that the result of the first six months of this year while it has benefited from 857mila euro capital gain derived from the sale of Four panamax bulk Earth has been heavily influenced by the other a negative impact of approximately 4.2 million arising from the effects of the storm "White" which led to an interruption of about 20 days in the activity of the FPSO Four Rainbow, from the sharp decline in the freight markets, for the sectors of direct interest of the company, was lower about 35% compared to the rate in first half of 2010 - a factor - said Premuda - significantly limited by good commercial roofing defined in the past and still available - and the weakening dollar, a fall of 5.6% over the first half of last year.
About the outlook for the full year 2011, Premuda explained that in the first half of the year for the liquid cargo freight rates recorded commercials mean values significantly lower than the previous year, always with a high degree of volatility , and that the downward trend continued in the second half start, while for the dry cargo has been a heavy drop compared to the averages of 2010 and the second half has started at levels close to the average values of the first half. For the remainder of this year - said the company - the expectations, despite a very uncertain forecast, are primarily oriented around those of the average rate in the first half. "Taking into account the results achieved in the first half, the course early in the third quarter of the markets of more direct interest and coverage of existing commercial available - Premuda concluded - it is reasonable to predict that, unless there are major surprises, the final result year 2011 should not deviate substantially from a tie. This of course regardless of any further need for "impairment" of assets property that might occur in relation to market trends. "
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The armament Italian Premuda Spa completed the first half of 2011 with a net loss of euro 833mila Time charter revenues to 53.1 million euros compared to a profit of 6.8 million euros of revenues for 58 Time charter , 8 million euros in the first half of last year. The operating result amounted to EUR 3.7 million (-58%).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
