News blog
Yujin International Ltd
- BY: Andrew Hore |
- POSTED: 19/12/2010 |
Tanker ship owner Yujin International Ltd will report better than expected 2010 results following management actions in the middle of the year.
Yujin is concentrating on its two owned tankers and the utilisation rates have improved. Three of the four bunker tankers were dry-docked for part of the year. The charter of one tanker ends in the first quarter of 2011 and the other three in the following quarter. Management anticipates that the charters will be renewed.
The ship management activities have been stable.
Two new ships are being built but their completion has been delayed by flooding at the shipyard in China. They should be completed in the second half of 2011.
At 43p a share, Yujin is valued at £12.9m.
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