Third Quarter Report 2010
At 30 September, coverage for the remaining part of 2010 was 30% at USD/day 16,173.
|Tanker Division||Q3 09||Q4 09||Q1 10||Q210||Q3 10||Change||12-month|
|- Q3 10|
|LR2 (Aframax, 90-110,000 DWT)|
|Available earning days||1,190||1,172||1,163||1,122||1,098||-8%|
|TCE per earning day from the LR2 Pool||18,401||20,331||19,270||17,185||19,848||8%|
|TCE per earning day 1)||17,406||18,356||18,456||15,505||17,672||2%||17,497|
|Operating expenses per operating day 2)||6,496||6,933||6,908||6,301||6,571||1%||6,678|
|LR1 (Panamax 75-85,000 DWT)|
|Available earning days||1,835||2,026||1,748||1,777||2,094||14%|
|TCE per earning day from the LR1 Pool||15,036||14,304||16,273||14,903||14,662||-2%|
|TCE per earning day 1)||16,514||16,516||16,686||15,509||14,628||-11%||15,835|
|Operating expenses per operating day 2)||6,706||5,986||6,454||5,420||5,729||-15%||5,897|
|MR (45,000 DWT)|
|Available earning days||3,602||3,829||3,755||3,916||4,212||17%|
|TCE per earning day from the MR Pool||14,974||11,521||14,179||12,567||13,753||-8%|
|TCE per earning day 1)||15,349||12,417||14,700||12,363||14,280||-7%||13,440|
|Operating expenses per operating day 2)||6,621||6,770||6,883||6,053||6,388||-4%||6,524|
|SR (35,000 DWT)|
|Available earning days||1,160||1,103||1,002||979||951||-18%|
|TCE per earning day 1)||18,378||16,894||18,034||16,099||13,851||-25%||16,220|
|Operating expenses per operating day 2)||6,105||6,326||6,041||4,821||6,274||3%||5,866|
|1) TCE = Time Charter Equivalent Earnings = Gross freight income less bunkers, commissions and port expenses.|
|2) Operating expenses are related to owned vessels.|
Operating profit for the third quarter of 2010 was USD 4 million, compared to USD 25 million for the third quarter of 2009. Profit for the third quarter of 2009 includes a profit of USD 21 million from sale of vessels.
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