of Friend International Shipping it closes 2011 with a net loss of 20,5 million dollars



of Friend International Shipping (DIS) it has archived item the 2011 with a net loss of 21,0 million dollars on revenues Time base charter for 187,0 million dollars respect to a net loss of 20,5 million dollars on revenues Time base charter for 199,3 million dollars in the exercise anniversary precedence. The gross operating profit (EBITDA) is piled to 31,0 million dollars regarding 30,4 million dollars in 2010 and operating profit (EBIT) has been negative for 6,0 million dollars respect to liabilities of 2,0 million dollars in 2010.

The statutory and consolidated on December 31, 2011 is examined and approved of project budgetary today by the board of directors of the shipowning society. "2011 - the managing director of Friend International Shipping, Marco Fiori has commented - have seen permanere of a difficult world-wide economic scene that it has involved also the field of the tankers. In this context of market, DIS has realized every day medium revenues on the substantially stable ad during all 2011, with the exception of the temporary increment of the hires manifested during according to trimester of the year. Signs of resumption however have been seen towards the end of 2011. DIS confirmation so the validity of its balanced model of business as the more efficient way in order at the same time to manage also a difficult context of market of the tankers, maintaining a solid vision of along term. In the course of all 2011, DIS has maintained an elevated level of cover from contracts to standing charge, such to generate bonds levels of cash flows from operating activities, let alone to ulteriorly consolidate the optimal relations in being with the main oil companies, that they constitute, historically, an essential aspect of its strategy".

"of Friend International Shipping - it has continued Marco Fiori - confirmation own prudent vision on the perspectives of the market for the first months of 2012, to cause above all of the uncertain total macroeconomic conditions. It is, however, positive the vision of mean-along period for the market of the tankers and for the segment of ships MR in particular. From the side of the offer, it is wait, in fact, a limited clean increase of ships for the years to come and is previewed, at the same time, a progressive consolidation of the ability to refining to out of the Countries of area OECD, that it will involve the increase of the question of tonnage for miles and of the rates I use".

Al 31 last December the fleet of the company was constituted altogether by 35 tankers (29 ships to medium range and six Handysize), of which 19 of property.