IMSK - Notice of Ordinary Annual General Meeting
The Ordinary Annual General Meeting of the shareholders is to be convened on Thursday, 18th March 2010, at 16.00 at the Company's offices at Karenslyst Allè 8B, Skøyen, Oslo.
The notice of Ordinary Annual General Meeting and the official version of the Annual Report in Norwegian will be sent to the shareholders by normal mail. The annual report will be available on our website. www.skaugen.com.
IMSK - Annual Report 2009
I.M. Skaugen SE has today posted its audited Annual Report 2009 on www.skaugen.com. Notice for ordinary general meeting on the 18 March 2010 was also sent to the shareholders by regular mail today. The notice is also posted on company's website.
The company has only recorded very minor changes from the preliminary unaudited results on January 15th. For the year, I.M. Skaugen Group (IMS) reported a net loss of USD 10.1 million (profit of USD 7.9 million in 2008). The EBITDA was USD 24.1 million (USD 50 million in 2008). The Group's gross revenues totaled USD 108 million (USD138.6 million in 2008). The book equity totaled USD94.4 million.
I.M. Skaugen SE
If you have any questions, please contact:
Bente Flø, Chief Financial Officer, on telephone +47 23 12 03 30/+47 91 64 56 08 or by e-mail: bente.flo@skaugen.com. This press release is also available on the Internet at our website: http://www.skaugen.com.
Listed on the Oslo Stock Exchange under the ticker code IMSK,. I.M. Skaugen SE (IMS) is a marine transportation service company engaged in the hassle-free transportation of petrochemical gases, chemicals, LPG and LNG, marine transfer of crude oil and LNG, as well as design and construction of smaller, specialised high quality vessels.
IMS is a fully-integrated shipping company that designs, builds, owns, mans and manages its own ships. IMS customers are major international companies in the oil and petrochemical industry, whom it serves worldwide from locations in Bahrain, Freeport and Houston (USA), Oslo and Stavanger (Norway), Singapore, Sunderland (UK) and Nanjing, Shanghai, Taizhou, Zhangjiagang and Wuhan (China). We also operate recruitment and training programmes in St. Petersburg (Russia) and Wuhan (China) for the crewing of vessels.
IMS employs approximately 1,800 people around the world and currently operates about 37 vessels worldwide. The fleet comprises petrochemical gas, LPG and LNG carriers, Aframax tankers and lightering support vessels, barges and tugs.
IMS has a comprehensive newbuilding programme in China, of which three 3,200cbm LPG vessels are delivered and sold; three purpose-designed combination carriers with LPG/Ethylene/VCM and Organic chemicals carrying capability; and up to ten advanced 10,000-12,000cbm LNG/ LPG/Ethylene gas carriers, with delivery from 2009 onwards. IMS has invested and built up internal resources and infrastructure in China to ensure innovative and flexible vessels at lower cost.