• Consolidated EBITDA was USD 11.9 million in the 2nd quarter 2012 versus USD 0.8 million last year and net cash increased by USD 9.5 million in the quarter.

  • Net financial items amounted to USD -14.2 million of which USD 1.7 million related to negative changes in the market value of an interest rate derivative entered into on the loan financing "MSC Vega" and USD 1 million relates to a penalty fee paid for late delivery of "MSC Regulus".

  • As of 30 June 2012 the consolidated cash position was USD 22.5 million, including restricted cash with USD 3 million.

  • On 21 May, 2012 SinOceanic III AS took delivery of "MSC Regulus" and she is placed on a 15 year bare boat charter with MSC.

  • SinOceanic Shipping ASA has now taken delivery of four vessels and has delivered on its strategy implemented in 2010

  • In May, 2012 SinOceanic's wholly owned subsidiary SinOceanic III AS entered into a USD 100 million  1st priority secured loan, a USD 20 million 2nd priority mezzanine loan and a USD 44 million 3rd priority junior loan for the financing of "MSC Regulus". The latter has been provided by Oceanus International Investment AS.

  • On 28 June 2012, Sinindo Holdings Limited, a Cypriot company controlled by HNA Group Co Limited China made a mandatory offer for the outstanding shares in the Company.

  • The mandatory offer expired on 10 August 2012 and Sinindo Holdings Limited currently owns 81.13% of the shares in the Company. Sinindo Holdings Limited supports the continued listing of the Company's shares at Oslo Stock Exchange.

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