Second quarter net profit rose to $8.91m, up 4% compared to $8.55m in the same period of last year. Revenue dropped 4% year-on-year to $36m.
The Singapore-listed shipping trust announced a distribution to unitholders of 0.60 US cents per unit, or a total of $2.54m in the second quarter.
“With a fully employed fleet throughout 2012 at an average daily net time charter rate of almost $25,000 per vessel, the Rickmers Maritime fleet generates a healthy cash flow,” said Thomas Preben Hansen, ceo of Rickmers Maritime.
“Our fleet has $548m of secured revenue between 1 July 2012 and the expiry of the last charter party contract in 2019, and as such, we believe these existing long term leases will continue to generate stable, ongoing cash flows for the trust.”
The trust has a fleet of 16 containerships on fixed-rate time charters with an average remaining charter period of 3.6 years.
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