In the first six months of 2015 of Friend International Shipping it has recorded the best semiannual performance from 2008



The shipowning society of Friend International Shipping (DIS) has closed the first six months of 2015 with a decided increment of the economic performances. The period has been archived item with a profit clearly of 30,1 million dollars respect to a net loss of -5,4 million dollars in the first half of 2014. The revenues have grown of +50.3% attesting itself to 212,1 million dollars. The EBITDA is piled to 45,1 million dollars (+217.5%) and the EBIT has been of positive sign for 29,7 million dollars respect to operating liabilities of -2,5 million dollars in the first semester last year.

The society - it has emphasized the managing director of Friend International Shipping, Marco Fiori - "has realized its better semiannual performance from 2008, recording a profit clearly pairs to 30,1 million dollars. Our strategy of increase, is through property ships that through ships rental (we are passed by 39 medium ships in first semester 2014 to 52 medium ships in first semester 2015), has demonstrated of being of smash hit".

"The trend of removal of the places of refining from those of consumption, about which we have spoken during the last few years - it has explained Flowers - has become today truth and our market is reacting positively to this phenomenon. DIS has generated a medium chartering every day ad of 19.026 dollars in first semester 2015 and of 19.533 dollars in according to trimester, clean increase regarding 12.677 dollars and 13,144 dollars of the same period last year. Our intention is that to hard consolidate the position of DIS in the market of the tankers and in this optical - it has remembered Flowers - we have, during according to trimester 2015, ordered to four new ships LR1 (Long range -75,000 dwt), than they join already to our plan of new constructions in being. This new order carries the plan of investments of DIS to 20 new units, for an investment total pairs to about 667 million dollars. These four new ships LR1 will be constructed by Hyundai Mipo, near their Vinashin yard in Vietnam, and are attended in delivery between the 2017 and beginning of 2018. At the same time, we have tried to grow also our fleet of ships rental. To such purpose, DIS has been come to an agreement in order to take rental to four tankers MR under construction (50,000 dwt) for 7/8 years (with option to extend the chartering contract or to acquire the ships at the end of the previewed period). These ships will be constructed near the yards Onomicki and Minaminippon in Japan and are attended in delivery between the 2017 and beginning of 2018. Creed therefore - it has concluded the CEO of Friend International Shipping - than 2015 will be a year much bond for our market of reference, DIS and also for our shareholders".

In the second solo trimester of the 2015 company April-june has recorded a profit clearly of 18,7 million dollars on revenues for 110,1 million dollars respect to a profit clearly of 1,4 million dollars on revenues for 72,3 million dollars in the period last year. EBITDA and EBIT are piled to 23,4 million dollars (+125.5%) and 17,7 million dollars (+926.9%).

DIS has announced that at the beginning of the third trimester of the 2015 market of the continuous tankers to see a good course of the question. "The esteem on the question formulated by the International Agency of the Energy - it has explained the company - are destined to grow in the course of the year, in spite of a small review to the decrease. Therefore the forecasts for the market of the tankers remain positive also on the third trimester. The greater ability to refining in the Middle Eastern region would have to stimulate the question of refined tankers for producing in the course of 2015, as the production is destined to the export. The increment in the ability to refining in Asia and the margins of refining much elevating would have to support the export of the produced ones and the processes of maintenance of the refineries would have to soon conclude in all the regions. In the third trimester the 2015 total production of the refineries would have to go up of others 700,000 barrels to the day, being touched the new figure record of 79,4 million barrels to the day, with an increase of 1,45 million barrels to the day on a yearly basis. The production of the refineries in the United States is attested to 19,2 million barrels to the day currently and it is previewed will go up to 19,5 million barrels to the day within the end of 2015. The United States are currently exporting about 2,3 million barrels to the day, that is 7% in more on a yearly basis. Also the question of producing in the USA is being strengthened and it is attested in fact to about 16 million barrels to the day, pairs to an increment of 4% on a yearly basis. The question of "tonnage/miles" in continuous increase would have therefore to support also that of tankers. In fact the question supported of producing refined in regions which Australia, the South America and the western coast of the United States do so as that the produced ones cover elevated distances more".