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I. M. Skaugen SE : 1H Result 2014 (IM Skaugen ASA)

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(Source: IM Skaugen ASA) PERFORMANCE IN 1H14 During the first six month we have seen the trading performance for our liquefied gas carriers in Norgas Carriers improving quarter on quarter. As a result the Norgas EBIT improved by USD 2.2 mill from 1Q14 to 2Q14. The EBIT result for the segment was negative USD 2.9 mill in 2Q14 vs negative USD 5.1 mill in 1Q14. We do at present expect to see some further improved trading conditions for our fleet in 2H14 vs 1H14. Improvements come from gradually lowering the number of non-revenue paying days for the fleet due to better scheduling and an improved cargo mix. Our decision in 4Q13 not to renew a core contract of afreightment (COA) with a client...

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