Worsening the economic results of the shipowning group Premuda



The project budgetary of exercise 2012 of Premuda, approved of today from the board of directors of the Italian shipowning society, shows a result negative of 47,9 million euros (after amortizations and devaluations of assets for 47,7 million euros and devaluations of participation for 16,8 million euros) against a result negative in the exercise precedence of 4,7 million euros (after amortizations and devaluations of assets for 31,0 million euros and devaluations of participation for 2,3 million euros). Al clearly of the having mail not recurrent nature - it has found the society - the rectified result of group would introduce a loss of about 14,3 million euros. The revenues Time base charter are piled to 89,4 million euros, down of 17.6% regarding 108,5 million euros in 2011, and the operating result has been of sign negative for 23,6 million euros respect to an operating profit of 4,0 million euros in the exercise anniversary precedence.

Premuda has explained that "exercise 2012 is characterized by a market maintained on unsatisfactory levels is for the profit of the ships that for the their consequent appraisal. In general terms, the cisterniero section however has turned out less heavy of 2011 with inferior hires of 8% for the Suezmax, but better of 10% for the Aframax and 21% for the VLCC. Much various the section of cargos buckets that a worsening for all the sections of the fleet has had: of 51% for the Capesize, of 45% for the Panamax, 34% for the Supramax and 28% for the Handysize. Thanks to the commercial cover acquired in the years precedence and still available - it has emphasized the company - the negative impact of the market has been about to we considerably more content, having recorded on 57% about of the fleet in exercise. The level of the market - it has continued Premuda - has obviously interested also the values of the ships and has determined, after the effettuazione of the prescribed procedures of impairment of the fleet, the necessity to proceed to a devaluation of five naval units (of which an anchor) for an amount of about 19,8 million euros and it has under construction not allowed to proceed to restorations of value - also partial - for another unit already devaluation object in the past".

Moreover - it has still specified Premuda - "the exercise of the connected Four Jolly Spa - our quota 50% (the other 50% is of genoese Ignazio Messina & C. Spa, ndr) - has turned out penalized, as well as from the reduced profit of the ships in exercise, from extraordinary burdens piling to about 27,8 million euros, understood for the quota our competence (13,9 million euros), in consolidated financial statement 2012. Sayings burdens derive from the sale to third party (defined to end 2012 and perfected in the course of the month of February 2013) to the action of the delivery by the yard constructor of the residual unit reservior of the type suezmax tanker from 158.000 tpl commissioned to the Korean yard Samsung and from the renunciation to exercise (within the term on December 31, 2012) the option in order to realize an unit of various type, substitutive of a twin unit of the precedence, whose contracted of construction it was cancelled".

About the forecasts for exercise 2013, Premuda has explained that "also with all reserves dictated from the uncertainty that, above all for markets extremely birds, characterizes every forecast, our esteem is for results still negatives", esteem that - it has specified the company - "are suffragate by managed previsional documents from the society and the course of the markets of our more directed interest in the course of the first part of the exercise". "We remain moreover trusting - it has concluded Premuda - than in the next exercises, to happening of the wait resumption of the economic conjuncture and thanks to the effects of the previewed reduction in the deliveries of new ships, the profit of the group is restored and can allow the full recovery of the endured losses".