Scandal-ridden carrier made profit in 2012

In its annual report for 2011, struggling carrier Shipcraft expressed real doubts about whether the company might be facing bankruptcy. Today, things are looking different, according to the company's annual report for 2012, published today.

It has long been doubted whether shipping company Shipcraft would be able to get back on its feet following the protracted hostage situation that lasted two years and involved the crew of the M/V Leopard, which was released this spring. Shipcraft's senior management wrote in the company's annual report for 2011 that there was a real chance that the carrier would go out of business in 2012, saying that "(...) there are signifcant uncertainties regarding the company's ability to keep operating."

But now everything indicates that realities have changed for the company, when looking at the annual report 2012, published today. The financial report contains increased optimism when looking at management expectations for the future compared to the expectations in last year's report, where the company's liquidity was gone:

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