4th Quarter report 2015
29.02.2016Solvangs 4th Quarter report 2015 has now been released.Highlights;
- Continued strong LPG market.
- Earnings from shipping activities of NOK 48.8 million, up from NOK 27.1 million in fourth quarter 2014.
- Earnings from ship owning companies of NOK 59.2 million, an all-time high
- Earnings before tax of NOK 44.9 million, up from NOK 31 million in fourth quarter 2014.
- Solvang with partners took delivery of MGC Clipper Odin in November 2015; vessel is on a 5 year TC on ammonia.
- 791 days without lost time incidents (LTI), and only 4 LTI in the last 8 years.
- The Board proposes a dividend of NOK 1.0 per share, and an extraordinary dividend of NOK 1.0 per share due to the record high earnings. A total of NOK 2.0 per share.
To get the full report, folow the link below
Report 4th Quarter 2015
Making Heavy Fuel Oil Clean
Exhaust gas recirculation (EGR) combined with previous measures reduces NOx emissions from heavy fuel oil by up to 80 % in a typical LPG tanker. The concept is a potential game changer for Norwegian domestic shipping.
The greenest and most fuel efficient VLGC ever
Solvang’s new-builds (84k cbm) at Hyundai Heavy Industries are two of the most fuel efficient LPG carriers ever built, in addition they are some of the world’s largest ships for transporting liquefied petroleum gas.