Brief: Jinhui warns of 2014 net loss, potential writedowns

Jinhui Shipping and Transportation

15/01/2015 05:39

Jan 15 (Reuters) - Jinhui Shipping And Transportation Ltd 
 JINS.OL  
    * Profit warning announcement 
    * Jinhui  is expected to record a consolidated net loss for 
year ended 31 december 2014 as compared to a consolidated net 
profit for year ended 31 december 2013 
    * Impairment loss on owned vessels might be required to be 
recognized in year 2014. However, such impairment loss amount is 
yet to be ascertained 
    * Net loss for 2014 would be primarily attributable to 
reduced hire and freight revenue due to substantial exposure to 
spot freight market, coupled with unrealized loss on investment 
portfolio and possible impairment loss on certain owned vessels 
 
Source text for Eikon:  ID:nObiNhwV9a  
Further company coverage:  JINS.OL  
 
 (Reporting By Terje Solsvik) 
 ((terje.solsvik@thomsonreuters.com;)) 
 
Keywords: JINHUI SHIP RESULTS/