Farstad Shipping ASA – Report 4Q 2016 and preliminary accounts 2016
Attached please find Report 4Q 2016. Farstad Shipping has entered into a restructuring agreement with several stakeholders, including secured lenders, key bondholders supported by Aker Capital AS and Hemen Holding Limited. The agreement will strengthen the balance sheet and liquidity position going forward, and secures a robust and long term financial position for the group. Farstad Shipping achieved an operating income of NOK 524.3 million for the 4th quarter. The operating loss (EBIT) was NOK 2,034.3 million after impairments of NOK 1,816.1 million. Loss after taxes was NOK 2,382.6