Nordic Tankers loss of 12,4m dollar in 1H
SHIPPING: Nordic Tankers posted a half-year net loss of 12,4m dollar. In Q2 Nordic Tankers managed a breakeven. The full-year expectations forecasting a loss before tax and write-downs of between USD 20 and 25 million remain unchanged
"Following a dedicated effort in the first six months of the year, Nordic Tankers has integrated the activities acquired from Clipper Group and improved the company's capital base through the fully subscribed rights issue. Now, focus is on optimisation of operations and execution of our corporate strategy, the main theme of which is profitable growth", says CEO Tommy Thomsen.
Nordic Tankers launched trading activities at the end of the second quarter and has started to charter vessels that will be employed within the company's geographical areas of activity. This activity is expected to increase Nordic Tankers' time charter equivalent revenue for the full year 2010 from 60-65 million dollar to 65-70 million dollar
The increased activity is not expected to have any significant impact on the financial results until 2011; consequently, expectations for EBITDA and pre-tax results for 2010 remain unchanged.
Source: Nordic Tankers / maritimedanmark.dk
