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02 October 2014 The on-line newspaper devoted to the world of transports 08:30 GMT+2



October 21, 2011

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Original news
Reefers star, 2011 is the more difficult year for the market reefer

In the third trimester the company has recorded an accentuation of the losses although decided rise (+33%) of the revenues

Up to now 2011 have turned out to be the more difficult year in the history of the field of the transport of producing cooled for a series of factors negatives, between which the crisis economic, the increasing competition from the companies that operate services for container, the arrest warrant of the exchanges in the Mediterranean because of the crisis geopolitical in Africa North and the increase of the cost of the bunker. This daunting analysis is of Reefers Star, one of the shipowning companies leader of the section of the transport of cooled with a fleet of 46 ships reefer.

Such situation of difficulty has obviously had an impact negative on the budgets of the company, that it has closed the third trimester of this year having recorded an ulterior worsening of the results of the economic account. The period is archiviato with a net loss of 14,0 million dollars on revenues for 69,6 million dollars respect to a net loss of 3,7 million dollars on revenues for 52,2 million dollars in the third trimester of 2010. The operating result has been negative for 11,4 million dollars respect to liabilities of 3,2 million dollars in the period July-september last year.

In the first nine months of the 2011 Reefers Star it has totaled a net loss of 22,9 million dollars and operating liabilities of 18,8 million dollars on revenues for 220,3 million dollars respect to a profit clearly of 3,9 million dollars and an operating profit of 4,8 million dollars on revenues for 181,9 million dollars in the period January-september of 2010.

The perspectives for the next months, according to Reefers Star, remain negative. The company has remembered that some shipowners have reacted to the crisis of the field placing in disarmament some of their older ships and less efficient or they have demolished to them in order to benefit of the increase of the prices of the steel, but other shipowners have preferred to continue to operate their ships to hire rates that are often come down beneath of the operating costs. According to Reefers Star it is possible that in a 2012 greater number of shipowners that work in the section reefer decides to withdraw ships from the market if theirs I use he will not have some sense from the economic point of view.


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