ShippingWatch

Transatlantic increases earnings

The Swedish shipping company Transatlantic still has a negative result, but the red numbers are lower than last year, reveals the third quarterly report, in which the sub-group Viking Supply Ship constitutes the wildcard.

The Swedish company Transatlantic has managed to increase its earnings in the third quarter. The two business units Viking Supply Ships and Industrial Shipping have added to the profits so a progress has been felt in the first three quarters of the year compared to 2011. However, the total result after taxes is still negative, as the report reveals.

“The combination of better contract coverage and a periodically more favorable spot market in the North-Sea Offshore market generated positive cash flow for VSS,” reads the report.

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