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2nd Quarter report 2016

29.08.2016
Solvangs 2nd quarter financial report has now been released.

Highlights;
  • Earnings from shipping activities (ship management and ship ownership combined) of NOK 52 million, up from NOK 35.6 million in second quarter 2015.
  • Earnings before tax of NOK 58.1 million, up from NOK 34.2 million in second quarter 2015.
  • Strong contract coverage in a LPG market under considerable downwards pressure.
  • Successful consolidation of multiple ship owning companies to increase efficiency and cash-pooling.
  • Successful financing of Panamax VLGC new-buildings.
  • Gain of NOK 21 million on sale of 37.5% of a share in one of the ship-owning companies.
  • Continued strong HSE results with only 5 minor LTI in the last 9 years.
Report 2nd quarter 2016
 
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