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Viking Supply Ships Financial Report January-September 2012

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In connection with the distribution of the TransAtlantic interim report January-September 2012, a separate financial report is published on Viking Supply Ships, one of TransAtlantic’s business areas and also a fully owned daughter company. Viking Supply Ships has issued a 5 year senior unsecured bond loan in the Norwegian capital market totaling 300 MNOK. The bond is listed on Oslo ABM.

TransAtlantic is organized in two business areas; Industrial Shipping with main operations in the Baltic Sea and Northern Europe through bulk-, container- and RoRo vessels, and Viking Supply Ships operating within ice breaking and offshore mostly in Arctic and subarctic areas. Industrial Shipping has its headquarters in Gothenburg, Sweden and Viking Supply Ships has its headquarters in Copenhagen, Denmark.

Major events within Viking Supply Ships during the period

  • Total revenue for Q3 2012 amounted to 279 MNOK, with an EBITDA of 109 MNOK. Total revenue for Q3 year to date 2012 amounted to 690 MNOK, with an EBITDA of 161 MNOK.
  • As expected the Q3 results have improved compared to the Q2 results. The results are still disappointing, reflecting a soft spot market for the AHTS fleet and a lack of fresh term activity and seasonal projects.
  • Viking Supply Ships has a clear focus on increasing the number of vessels on term contracts in order to improve earnings stability. As a result of this 3 AHTS vessels were on term contracts in Q3 compared to 1 AHTS vessel at the beginning of 2012.
  • The average utilization for the AHTS fleet in Q3 was 72 % and 79 % for the PSV fleet.
  • 6.8 MNOK has been included in Q3 revenue in relations to salvage of the vessel Golden Seas following the ruling from Arbitration in London.

     The financial report is available in its entirety on www.vikingsupply.com and www.rabt.se.

    For further information, please contact:

CEO Viking Supply Ships Christian W. Berg: ph + 45 41 77 83 80.

Rederi AB TransAtlantic is a leading Swedish shipping company with headquarters in Gothenburg, Sweden and additional offices in Europe. The company is organized into two business areas: Industrial Shipping and Viking Supply Ships. The company has about 900 employees and the turnover in 2011 was MSEK 2,989. The Industrial Shipping business area consists of four divisions: Bulk, Container, RoRo Baltic and Short Sea Bulk. The company’s B-shares are listed on the NASDAQ OMX Stockholm, Small Cap segment. www.rabt.se  

TransAtlantic is obliged to make this information public according to the Financial Markets Act and/or the Financial Instruments Trading Act (Sw: lagen om värdepappersmarknaden and lagen om handel med finansiella instrument). The information was submitted for publication on  November 2, 2012 at 8.31 am.

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