Premuda has archived item first trimester 2013 with a net loss of -4,3 million euros



The shipowning society Italian Premuda has concluded the first trimester of this year with a net loss of -4,3 million euros respect to a net loss of -1,9 million euros in the first three months of 2012. attesting itself to 16,3 million euros. The operating result has been of sign negative and pairs to -1,9 million euros respect to an operating profit of 1,3 million euros in the first trimester last year. Of sign less also the result before taxes that -4,1 million euros have totaled respect to liabilities before taxes of -1,8 million euros in the correspondent period of 2012.

"The result of the first trimester, down regarding the correspondent period of the exercise precedence - it has explained the Italian company - drift from the negative course of the hires recorded in the sections of directed interest, with the single exception of the destined Aframax units product tanker to the transport of producing refined (possessed for through of the connected Four Joker and employees in the within of the pool "Taurus", specialized for ships of such type) that they have realized considerably better values. The result of the period moreover is weighted down by the lacked contribution the FPSO Four Rainbow, remained in disarmament waiting for the definition of a new project of employment". Premuda has remembered that with respect to this last unit "important claims are started in confront of the precedence user, for exceeding amounts widely the which joined credits budget" and that "the outcomes of such procedures are not attended within the current exercise".

Premuda has announced that "the group financial situation evidences a clean exposure on December 31, 2012 equivalent to 306,8 million euros (299,6 million euros and 300,1 million euros on March 31, 2012), with liquid availabilities piling to 7,9 million euros. Regarding the end of the exercise precedence, the exposure clean financial institution is increased of 7,2 million euros deriving mostly from the strengthening of the dollar regarding the punctual change of year-end, with consequent greater equivalent value in euro of the dollar denominated financings". "As already evidenced in the budget on December 31, 2012 - it has found the shipowning society - the entity and the financial composition of the indebtedness they represent, in the current phase of turbulence of the financial markets and weakness of the marine markets of reference, an element which lend the maximum attention, also in relation to the smaller ability to the fleet to generate liquidity in the current contingency of the markets. With regard to one remembers that to end 2012 some negotiations had been perfected with positive outcome financial institutions developed in the course of the exercise and is signaled that still the under way negotiations with some financial institutions have not been perfected for renew of a credit line to 18 months less a day, of the amount of 15/20 million euros, substitutive of an analogous regularly reimbursed past due operation and in the course of the January month, necessary to assure the cover of the expectable financial requirements in the current exercise". "We consider - it has specified the company - than already beginning from the next exercise the position financial institution could be meaningfully supported, as well as from the ability to guarantee of the group, from the attended returns of the litigations in being with ENI Australia, whose first outcomes are previewed in about 12 months from the today's date, and the attended shown improvements of in the report quarterly market".

Premuda has specified that, "for how much concerns the perspectives of the market, in April the 2013 same one has been maintained on not satisfactory levels in absolute value, but however has recorded improvements regarding the first trimester; in detail, the hire installments have grown of 1.75% for the Aframax, of 0.26% for the LR2, 17.10% for the Supramax and 14.95% for the Handysize. The waits of the analysts and the operators - it has remembered the company - are for a trend in increase, species for the section of cargos dry, to begin from the second half of the year. It remains obviously much difficult to anticipate the future of markets so birds and influenced very many factors, not only economic. To the effects of the possible results of our fleet in exercise 2013, it must however be remembered that the running market is applicable to 52% about of the total time/ship available to beginning exercise, while residual 48% about are covered by satisfactory charterings. The perspectives more long period - it has still found Premuda - appear heavily dependent evolving itself of the current negative economic conjuncture that is still conditioning the traffics of many great economic regions (Europe, the United States, Japan) and from the financial situation, with particular reference to the attitude of the bank system and to the relationship of change euro/dollar. The element however more incisor for 2013 continue to being constituted from the esubero of the offer of tonnage regarding the transport question, because of the still heavy commissioning of new ships. This situation is destined to attenuate itself meaningfully only in the next year, especially for the section of the bulk from 35.000 tpl whose fundamental they would have to invert for the first market trend of the hires".