Brief: Nordic Shipholding Q3 EBITDA Loss Turns To Profit USD 1.2 Mln

Nordic Shipholding A/S

25/11/2020 06:05

Nov 25 (Reuters) - Nordic Shipholding A/S  NORDIC.CO :
    * COMPANY ANNOUNCEMENT 10/2020
    * TCE REVENUE IN Q3 2020 FALLS SHORT OF EXPECTATION DUE TO
LOWER
THAN EXPECTED DAILY TCE RATES
    * FOR 9 MONTHS ENDED 30 SEPTEMBER 2020, GROUP INCURRED A
LOSS
AFTER TAX OF USD 3.9 MILLION
    * QUARTERLY LOAN INSTALMENTS DUE FROM DECEMBER 2018 TO
SEPTEMBER
2020 ARE DEFERRED TO DECEMBER 2020
    * IN ACTIVE DISCUSSIONS WITH LENDING BANKS ON SECURING
LONGER TERM
FINANCING FOR GROUP
    * EXPECTATION THAT LENDERS WILL FINANCE COMPANY IN A PERIOD
LONGER
THAN 31 DECEMBER 2020
    * Q3 TCE REVENUE $4.6 MILLION VERSUS $3.1 MILLION YEAR AGO
    * Q3 EBITDA $1.2 MILLION VERSUS LOSS $1.0 MILLION YEAR AGO

Source text for Eikon:  ID:nGNE1Ww6h7 
Further company coverage:  NORDIC.CO 

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