Revenue And Profitability Gains Reported By ASRY

ASRY has reported gains in revenue and profitability in 1995; dock occupancy was high and the volume of steel renewals increased. New ship repair revenue in 1995 rose 10.8 percent compared with the year before — reportedly the highest revenue achieved in any year since the yard opened for business in 1977. The number of vessels repaired in dock and alongside also rose from 104 to 113, while operating profits increased from $7.3 million to $8.5 million. Net profit also rose to $1.5 million, compared with $80,000 in 1994. Prominent in stemming vessels were owners from Greece, Brazil, Norway and the U.K., in addition to a strong demand from owners based in the Arabian Gulf, Singapore, Germany, Hong Kong, Italy, Sweden, Denmark, Turkey, India and Japan. In terms of vessel size and type, the number of VLCCs docked has risen, and ASRY's market remains weighted towards crude oil tankers, product, chemical and LPG carriers, but with good demand from bulk carriers and container vessels which reportedly can now be accommodated in the two floating docks added in 1992.

ASRY is reportedly budgeting for further revenue increases in 1996. Among large vessels worked on or booked are Jahre Pollux (370,000- dwt), Tarim (280,964-dwt), Bartolomeu Dias (151,000-dwt), Jacui (131,662-dwt), Astro Alpha (268,288-dwt), Corona Star (222,760-dwt), Bridgeton (413,842-dwt), and Galp Funchal (304,815-dwt).

For m o r e i n f o r m a t i o n o n A S RY C i r c l e 4 2 o n R e a d e r S e r v i c e C a rd