Sølvtran increase utilisation rate

Sølvtrans had a utilisation rate of 94% for the full fleet in the first quarter 2013, compared to the 80% reported in the same period last year. The main reason for the lower utilisation rate last year was that the company then had two vessels under preparation and under voyage to Chile. There was no revenue on these vessels that quarter, whilst they have had full utilisation in first quarter this year.

The company had 11 vessels on long-time contracts in the quarter, with a combined utilisation rate of 99%. The 12 days without income-generating employment for these vessels were mainly related to a planned yard stay for the vessel Ronja Skye in March.

Sølvtrans had two vessels operating in the spot market in the first quarter. Due to a weak market in the beginning of the year, these two vessels had a combined utilisation rate of 68%.