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3rd Quarter report 2016

03.11.2016
Solvangs 3rd quarter financial report has now been released.

Highlights;
  • Earnings from shipping activities (ship management and ship ownership combined) at NOK 32.8 million.
     
  • Impairment charge / exceptional items of NOK 25.7 million, reducing earnings from shipping activities to NOK 7.1 million.
     
  • Earnings per share of NOK 1.33 excluding impairment charge.
     
  • LPG market under continued downwards pressure
     
  • Additional contract coverage secured for 2017 for VLGC/LGC fleet.
     
  • Successful consolidation of multiple ship owning companies to increase efficiency and cash-pooling.
     
  • Continued strong HSE results with only 5 minor LTI in the last 9 years, and a LTIF of 0.24.
Report 3rd Quarter 2016
 
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