Despite hue improvements in the 2H2012 of the financial year ending Dec 31 2012 that could result in some earnings pressure, including rising bunker prices.
Loss for both tanker and chemical have increased from the previous quarter and expect 2H2012 to remain weak.
Do not foresee a turnaround over the next two to three years (2012 – 2014).
As not all these vessels operate on time charter contracts, rising bunker fuels will impact earnings negatively. In addition, demand for oil and chemicals remains poor and the management guided for a seasonally weak third quarter but was hopeful for the 4Q winter peak.
Losses have fallen substantially, from US$101 million in 1Q to just US$18 million in 2Q2012. Expect lower losses for 2H2012.
MISC has sold 15 of its 16 liner vessels, with another expected to be sold in Sept 2012.
Loss for both tanker and chemical have increased from the previous quarter and expect 2H2012 to remain weak.
Do not foresee a turnaround over the next two to three years (2012 – 2014).
As not all these vessels operate on time charter contracts, rising bunker fuels will impact earnings negatively. In addition, demand for oil and chemicals remains poor and the management guided for a seasonally weak third quarter but was hopeful for the 4Q winter peak.
Losses have fallen substantially, from US$101 million in 1Q to just US$18 million in 2Q2012. Expect lower losses for 2H2012.
MISC has sold 15 of its 16 liner vessels, with another expected to be sold in Sept 2012.
1 comment:
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