The profit was on turnover of $462.8m, a slight drop on 2011’s $450.2m. The company’s operating result more than doubled to $87.1m from $37.6m in 2011.
The improvement came mostly from the company’s LPG division, which returned a $19.7m loss in 2011, and a $27.5m profit in 2012.
A capital gain of $23.9m on the sale of the Opti-ex semi-submersible rig to US firm LLOG Exploration, and net capital gain on the sale of Chaconia, Elversele and TIhelrode of $13.2m also boosted 2012 results.
Talking about its prospects for 2013, Exmar remains confident in its LPG division as most of its fleet will be involved in the joint venture with Teekay LNG announced last month, a deal that will see a $56m capital gain recorded in the first quarter. Fleet renewal continues with 1985-built Donau due to be sold for recycling in April 2013 and 12 midsize gas carriers on order.
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