Bending of the quarterly economic results of Friend International Shipping



In the first trimester of this year the shipowning company of Friend International Shipping (DIS) has recorded revenues pairs to 91,9 million dollars (- 1.5% on the first three months of 2016), of which 66,6 million dollars of revenues Time base charter (- 11.3%). The EBITDA is piled to 16,5 million dollars (- 23.5%) and the operating profit have been pairs to 7,3 million dollars (- 42.7%). The period has been archived item with a profit clearly of 1,8 million dollars (- 74.5%).

The managing director of the company, Marco Fiori, has evidenced as "the EBITDA obtained in the course of first trimester 2017 is 1,7 million dollars higher than that obtained in the course of the precedence two put trimesters together. This positive result - it has explained - has had to a market of the tankers in improvement, than door DIS to increase its every day medium result, on the market of the ad, of beyond 32% (or 3,200 dollars/day) to 13.363 dollars, regarding the average recorded in the second half of the year last year. At the same time - it has specified Flowers - the good level reached in the rate cover from contracts to standing charge to mean/along term (41% to 15.908 dollars/day), has afforded us to reach a good every day medium rate pairs to 14.412 dollars/day in the course of first trimester 2017".

"We maintain therefore - it has continued Flowers - to a positive vision on the perspectives of the market of the solid tankers and on its fundamental ones. On one side, current orderbook of tankers Medium Range it is to its level more low of last the 15 years with limited productive ability available in the yards in order at least next the two years. This would have to limit the arrival of new tonnage on the market. From the other side, the world-wide question of producing refined is attended in increase in the next few years, to such an extent to exceed the correspondent increase from the side of the offer. In addition to this, the displacement of the ability to refining far from the main places of consumption will sure carry to an increase in the tonnage question miles for the refined produced ones. In such context, I am convinced that our society is very very placed for being able to benefit of this waited for recovery of market. The increase of capital, announced recently, with the sale of some of our older ships will afford than to strengthen our society patrimonially and to improve of the liquidity, in a phase of completion of our plan of CAPEX pairs to 197,3 million dollars. After our ambitious slowly of investments pairs to 755 million dollars for the order of 22 ships of new construction, begun in 2012, and attended to conclude itself in the 2018 - it has concluded Flowers - DIS it will have a fleet generally much young person and of ships ECHO, with optimal a mix between ships of property and ships rental, that creed will be perfect in order to answer to a question in increase by our main customers in the years to come".