American Shipping returns to profit

American-Shipping

American Shipping Company ASA announced results for the third quarter ending 30 September 2016.

Highlights:

  • Stable Q3 bareboat revenue of MUSD 22.1 and backlog of secured bareboat revenue of MUSD 336 with average weighted tenor of 3.8 years
  • Normalized EBITDA for Q3 of MUSD 23.7
  • Q3 profit share of MUSD 1.4 attributed to AMSC, which reduces the profit share credit
  • Q3 adjusted net profit of MUSD 3.0
  • Declared Q3 dividend of USD 0.124 per share, in line with previous guidance for full year 2016 dividends

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