of Friend International Shipping archivia the third trimester with a net loss of 9,7 million dollars



of Friend International Shipping (DIS) it has closed the third trimester of this year with a net loss of 9,7 million dollars on revenues base Time-charter for 46,8 million dollars respect to a net loss of 9,6 million dollars on revenues base Time-charter for 45,6 million dollars in the correspondent period of 2011. The operating result has been negative for 5,4 million dollars respect to liabilities of 3,1 million dollars in the third trimester last year.

The company has found that the uncertainty that still the current world-wide economic scene permeates ripercuote also on the field of the tankers and that, in this context of market, DIS has realized in the course of the 2012 every day medium revenues on the ad substantially still weak people. Signs of resumption - it has announced the company - are, but, clearly evidenced in the course of the third trimester.

In the first nine months of the 2012 company it has totaled a net loss of 107,0 million dollars on revenues base Time-charter for 135,7 million dollars respect to a net loss of 19,8 million dollars on revenues base Time-charter for 141,8 million dollars in the same period last year. The operating result has been negative for 100,5 million dollars respect to a result negative for 7,1 million dollars in the period January-september of 2011. The results of the 2012 include relative liabilities of 85,0 million dollars to the devaluation of the fleet in according to trimester of the year: "such correction in the value of the ships - it has specified DIS - is the result of a been extended decrease in the market prices of the same ones and the rates of chartering. The aspect important to emphasize - it has evidenced the company - is as such devaluation not ports to some impact on the cash flows. To this point and after several difficult years for the entire field, we feel of having the responsibility to align our values budgetary to the effective valorizations of market. A level so low in the price of the ships can represent, at the same time, an important opportunity for a navigation society leader of market as DIS".

DIS has confirmed its very positive vision on the market in the mean/along term and has remembered that in such optical also "ECHO" has stipulated contracts of purchase for four new ships product/chemical tanker. "One of the main oil companies - the shipowning society has announced - has already stipulated chartering contracts in the long term, on two of the ships under construction, to higher rates regarding those previewed for the ships of old generation and in a position to generating profit at the same time, increasing also the rate cover from contracts to standing charge". Vice versa of Friend International Shipping it has confirmed also own prudent vision on the perspectives of the market for the year in course: "it is, however, positive - it has specified the company - the vision of mean-along period for the market of the tankers and for the segment of ships MR in particular. We believe, in fact - it has explained DIS - than the market is now moving in the right direction and that a period characterized from a course more weak person of the hires in the short term, can be in reality positive for the balance of the question and the offer of tankers in the near future. At the same time, the consolidation of the ability to refining to out of the OCSE, attended for the next years, would have to more carry to an increase in the tonnage question ? miles and elevated rates than I use of the ships".