ShippingWatch

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:

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs