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EBITDA for the third quarter was USD (0.3) million. Net financial items for the third quarter were USD (1.3) million. Earnings per share (EPS) for the third quarter were USD (0.07). The average number of shares in the quarter was 78,888,559 shares. As per the end of the period, the outstanding number of shares was 78,888,559. All of the Company's vessels completed their special surveys (drydocking) during the third quarter. All special surveys were completed within budget. The Company expects limited CAPEX on the vessels going forward. The Company had a total of 75 off-hire days in connection with the special surveys. The Company's vessels had a total of 293 trading days out of 368 possible in the third quarter. The Company's spot trading vessels had a total of 231 trading days out of 276 days in the quarter. The number of trading days is calculated as the total number of days in the quarter less the number of days used for the special surveys. Average TCE obtained on all four vessels was USD 16,395 per day in the quarter. Average TCE for the three spot trading vessels was USD 11,969 per day in the quarter. Average OPEX per vessel was USD 12,316 per day and reflects preparations for the special surveys conducted in the quarter. The Company's condensed financial statements for the third quarter of 2010 are enclosed. Saga Tankers ASA, press release |
Q3 2010 financial report