Energy, Good for Business, Latvia, Transport

International Internet Magazine. Baltic States news & analytics Wednesday, 24.04.2024, 18:16

Latvian Shipping Company’s fleet’s income was 47.14 mln USD in H1

BC, Riga, 22.09.2014.Print version
In the first half-year of 2014 JSC “Latvian Shipping Company” and its subsidiaries (hereinafter – LSC Group) continued to improve their financial indicators – in 2013 in the same period the Group suffered a loss of 26.60 million USD, but this year – 8.32 million USD. The total income from the fleet in the first half of 2014 was 47.14 million USD, informed BC the company’s press service.

The loss of the LSC Group in the first half-year included vessel impairments in the amount of 22.70 million USD, losses from the sale of the vessel “Riga” in the amount of 0.32 million USD, as well as re-evaluation of the indirect investment in JSC Latvijas Naftas tranzits in the amount of 8.35 million USD. After the sale of the vessel “Riga” the fleet of the LSC Group consists of sixteen modern tankers with an average age of 6.5 years. The total value of the LSC fleet as of June 30, 2014 was 384.98 million USD.

 

“In the first half of the year the sea transport market did not meet expectations, and, in particular, the performance of the tanker market segment was disappointing. But the fleet of the LSC Group mostly operated on time charters, thus we managed to avoid income reduction in this segment,” indicates Chairman of the Management Board of the LSC Robert Kirkup.

 

JSC Latvian Shipping Company Group unaudited financial statements for 6 months of 2014.





← Back↑ Up

Русский
Search site