{"id":5693,"date":"2022-02-03T01:41:00","date_gmt":"2022-02-03T01:41:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3650993_AE50993_0"},"modified":"2022-02-03T01:41:00","modified_gmt":"2022-02-03T01:41:00","slug":"vessel-values-written-down-by-sek-268-million","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=5693","title":{"rendered":"Vessel values written down by SEK 268 million"},"content":{"rendered":"
<\/div>\n

G\u00d6TEBORG, Sweden<\/span>, Feb. 3, 2022<\/span> \/PRNewswire\/ — An impairment loss has been recognised after an overall assessment of the vessels’ market value and their value in use. As a consequence of the prolonged tanker market weakness, these values are estimated to have declined. This assessment is also confirmed by the recent sale of the P-MAX vessel Stena Perros<\/span>. Overall, this gives rise to a total impairment loss of SEK 268 million<\/span> on vessel values. The book value of Concordia Maritime’s vessels after the impairment amounts to SEK 1 973 million.<\/p>\n

The impairment does not have any other impact on cash flows or loan agreements. <\/p>\n

Concordia Maritime carries out an impairment analysis every six months. An impairment loss is recognised when the book value of an asset or cash-generating unit exceeds its recoverable amount. The recoverable amount is the higher of fair market value (based on external valuations) and value in use (estimated future discounted cash flows).<\/p>\n

For more information, please contact: <\/b><\/p>\n

Erik Lewenhaupt<\/span>
CEO, Concordia Maritime AB
erik.lewenhaupt@concordiamaritime.com<\/a>             <\/p>\n

This information is information that Concordia Maritime Aktiebolag (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 2 February, 2022<\/span> at 22:30 CET<\/span>.<\/i><\/p>\n

Concordia Maritime<\/b> is an international shipping company founded in 1887. Our focus is on safe, sustainable and reliable transportation of refined oil products, chemicals and vegetable oils. The company’s B shares were first listed on Nasdaq Stockholm in 1984. <\/i><\/p>\n

www.concordiamaritime.com<\/a> <\/i><\/p>\n

This information was brought to you by Cision http:\/\/news.cision.com<\/a><\/p>\n

https:\/\/news.cision.com\/concordia-maritime\/r\/vessel-values-written-down-by-sek-268-million,c3497866<\/a><\/p>\n

The following files are available for download:<\/p>\n","protected":false},"excerpt":{"rendered":"

G\u00d6TEBORG, Sweden, Feb. 3, 2022 \/PRNewswire\/ — An impairment loss has been recognised after an overall assessment of the vessels’ market value and their value in use. As a consequence of the prolonged tanker market weakness, these values are estimated to have declined. This assessment is also confirmed by the recent sale of the P-MAX […]<\/p>\n","protected":false},"author":8,"featured_media":5694,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-5693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"\nVessel values written down by SEK 268 million - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=5693\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vessel values written down by SEK 268 million - My Blog\" \/>\n<meta property=\"og:description\" content=\"G\u00d6TEBORG, Sweden, Feb. 3, 2022 \/PRNewswire\/ — An impairment loss has been recognised after an overall assessment of the vessels’ market value and their value in use. 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