Independent journal on economy and transport policy
08:16 GMT+1
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In the first trimester of Friend International Shipping it has recorded a net loss of -3,6 million dollars
Stable the revenues Time base charter
May 3, 2018
The shipowning society of Friend International Shipping (DIS) clearly has archived item the first trimester of this year with a net loss of -3,6 million dollars respect to a profit of 1,8 million dollars in the first three months of 2017. The managing director of the company, Marco Fiori, has explained that the quarterly result of sign negative is obtained "in a market still relatively weak person. In particular – it has specified - DIS has obtained a every day medium hire of 12.726 dollars in the first trimester of 2018 substantially online with that obtained in the same trimester last year (13,363 dollars in first trimester 2017, of 4.8% more low), but considerable better of the average obtained in the three trimesters precedence (second - fourth trimester 2017: average pairs to 11.677 dollars/day). As usual - it has added Flowers - our strategy of along term, to maintain a high level of cover with contracts of mean along term, has mitigated the effect negative of the weak person market ad. In fact, our cover, to a hire pairs to 15.001 dollars/day on 31.7% of the total days ship in the first trimester of 2018, has carried to us to reach a total every day medium hire (ad and Time-charter) pairs to 13.446 dollars, satisfactory considered the current context of market".
In the first trimester of this year the revenues of the company are piled to 103,5 million dollars, with an increment of +12.6%, while the revenues deriving from the charterings of the tankers of the fleet of the company have been attested to 66,3 million dollars, with a determined bending of the -0,4% from the increase of 46.6% of gone up the direct costs of travel to 37,2 million dollars. The EBITDA has turned out pairs to 10,1 million dollars (- 38.9%) and the operating profit to 833 thousand dollars (- 88.6%).
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The shipowning society of Friend International Shipping (DIS) clearly has archived item the first trimester of this year with a net loss of -3,6 million dollars respect to a profit of 1,8 million dollars in the first three months of 2017. The managing director of the company, Marco Fiori, has explained that the quarterly result of sign negative is obtained "in a market still relatively weak person. In particular – it has specified - DIS has obtained a every day medium hire of 12.726 dollars in the first trimester of 2018 substantially online with that obtained in the same trimester last year (13,363 dollars in first trimester 2017, of 4.8% more low), but considerable better of the average obtained in the three trimesters precedence (second - fourth trimester 2017: average pairs to 11.677 dollars/day). As usual - it has added Flowers - our strategy of along term, to maintain a high level of cover with contracts of mean along term, has mitigated the effect negative of the weak person market ad. In fact, our cover, to a hire pairs to 15.001 dollars/day on 31.7% of the total days ship in the first trimester of 2018, has carried to us to reach a total every day medium hire (ad and Time-charter) pairs to 13.446 dollars, satisfactory considered the current context of market".
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
