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Lauritzen Posts Healthy Q1/Q2 Figures
Relateret indhold
09-08-2010
13:39
Shipping company J. Lauritzen A/S has posted results totaling USD 99.6m for the first six months of 2010, comparing favorably to the USD 1.5m it earned the first half in 2009. According to a company statement, the figures were better than expected due to in part to improved earnings from its bulk carrier operations. The company reported an EBITDA of USD 106.2m in Q1/Q2 2010, compared to USD 42.8m in Q1/Q2 2009.
Return on invested capital (ROIC) was 13.2% compared to 1.6% in the same period in 2009. Excluding installments on vessels under construction, the company said, ROIC amounted to 17.5% compared to 3.4% in the first half of 2009.
During the first six months of 2010, Lauritzen took delivery of six new vessels and chartered several other bulk carriers on a long-term basis. It also agreed a loan backed by Nippon Export and Investment Insurance (NEXI) and successfully completed an unsecured bond listing the Oslo Stock Exchange.
While demand for sea freight transportation is expected to remain fairly strong in the second half of 2010, the company said, market conditions will likely be affected by a significant delivery schedule of new vessels, particularly bulk carriers and product tankers.
Return on invested capital (ROIC) was 13.2% compared to 1.6% in the same period in 2009. Excluding installments on vessels under construction, the company said, ROIC amounted to 17.5% compared to 3.4% in the first half of 2009.
During the first six months of 2010, Lauritzen took delivery of six new vessels and chartered several other bulk carriers on a long-term basis. It also agreed a loan backed by Nippon Export and Investment Insurance (NEXI) and successfully completed an unsecured bond listing the Oslo Stock Exchange.
While demand for sea freight transportation is expected to remain fairly strong in the second half of 2010, the company said, market conditions will likely be affected by a significant delivery schedule of new vessels, particularly bulk carriers and product tankers.
*****||*****Lauritzen Posts Healthy Q1/Q2 Figures*****||*****Shipping company J. Lauritzen A/S has posted results totaling USD 99.6m for the first six months of 2010, comparing favorably to the USD 1.5m it earned the first half in 2009. According to a company statement, the figures were better than expected due to in part to improved earnings from its bulk carrier operations. The company reported an EBITDA of USD 106.2m in Q1/Q2 2010, compared to USD 42.8m in Q1/Q2 2009.*****||*****
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