the assembly of associates of Premuda has approved of the budget of exercise 2014



Yesterday the assembly of associates of the shipowning society Italian Premuda has approved of the budget of exercise 2014, without variations regarding the project introduced from the board of directors that introduced a net loss consolidated of -41,8 million euros on revenues Time base charter pairs to 62,2 million euros ( on 16 April 2015).

The company has specified that moreover the assembly has considered of being able to share the appraisals carried out from the board of directors that, to light of the positive developments recorded in the negotiations with banks patrons that have recently confirmed the availability to sign appropriate agreements of standstill propedeutici to the effettuazione of previewed cespiti dismissioni of and to it stipulates of a definitive agreement of restructure of the financial debits of group ( on 29 June 2015), it has confirmed to the assembly of the associates own appraisals on the subsistence of requirement of business continuity.

With respect to perspectives for exercise 2015, Premuda has specified that "in the first place they are connected to the restructure of the group debit, initially by means of the previewed subscription of appropriate agreements of standstill that they will be able to allow to place in being some previewed cespiti operations of dismissione of and, successively, with the wished one it stipulates of a definitive agreement that in the intentions of the parts would have to be perfected within October 2015", while for how much it concerns the market of the hires - it has explained the company - "in the first part of the year characterized from a strong depression in the section of cargos dries and from a much satisfactory course in the section of cargos liquids, the expectations are for a confirmation of the current values for the ships to cisterniere and the start of the wished resumption of the profit for the units from dry cargo, also in reason of the lowest current levels, not sustainable in the medium term".

"It remains obviously much difficult - it has specified the shipowning society - to anticipate the future of markets characterized from a strong volatility and influenced very many factors, not only economic. To the effects of the possible results of our fleet in I continue of the exercise - Premuda has emphasized - must however be remembered that the risk market is reported to 60% about of the total time/ship available for the second half of the year, being the residual one covered from charterings already defined".