of Friend International Shipping, first positive trimester graces to a market of the tankers in strong increase



In the first trimester of the 2015 shipowning society of Friend International Shipping (DIS) it has recorded a profit clearly of 11,4 million dollars respect to a net loss of -6,8 million dollars in the correspondent period last year. The revenues are piled to 102,0 million dollars (+48.1%), of which 77,0 million dollars of revenues Time base charter (+65.7%). The operating result has been of positive sign for 12,0 million dollars respect to operating liabilities of -4,2 million dollars in the first three months of 2014.

The managing director of Friend International Shipping, Marco Fiori, has expressed satisfaction for the result achieved in the first trimester of this year "graces - he has specified - to a market of the tankers in strong increase. In fact - it has explained Flowers - on the wake of the begun positive trend in the last trimester last year, the market of the tankers is improved in meaningful way in the course of first trimester 2015 reaching its maximum levels beginning from the beginning of the crisis financial institution. In such context, DIS has realized a every day hire on the market ad pairs to 18.503 dollars, having marked an increment of 52% regarding the same period last year".

"They are - it has continued Flowers - extremely trusting on the perspectives of increase of our field graces, in particular, to factors which the increasing role of the United States, as clean exporter of producing oil, and the displacement of the ability to world-wide refining towards the Middle East and Asia, factors that will afford an ulterior increase of the question of tonnage-miles. In the light of all this, we have looked for ulterior opportunities of increase in our field, through the order of two ships of new construction LR1 (tankers Long Range - 75,000 gross capacities in tons). Thanks to this operation, DIS will be able so to enter in a new segment inside of the market of the tankers, than, creed, will be a lot interesting in the years to come, date the greater cargo ability of this type of ships joined to the wait increase in the question of tonnage-miles". (inforMARE on April 27, 2015).

"Thanks to revenues Time base charter many bonds and also partially to a positive trend in the costs - moreover Giovanni Barberis has explained, financial director of Friend International Shipping and the group of Friend - DIS has realized an EBITDA of 21,6 million dollars in the course of first trimester 2015 (regarding 3,8 million dollars in first trimester 2014), pairs to 80% of the EBITDA recurrent total reached in the entire 2014. Also in terms of margin on the EBITDA we are passed by ' 8.2% of first trimester 2014 to 28.1% in first trimester 2015. At the same time, we have maintained support to a extremely solid capital structure of our plan of investments of 490,7 million dollars (of which 28,0 million invested in the course of the first trimester of 2015), ulteriorly increased with the recent order of two ships of new construction LR1 for an investment total pairs to 44 million dollars each. At the same time, a cover to fixed rate to profitable levels together to a market ad in strong increase affords to obtain us good results also in terms of cash flows".