Sølvtrans up 21 %

Average utilization rate for the quarter was 92 per cent. All vessels operating on long-term charters have been close to full production for the quarter.

The company reports a strong growth in EBITDA, ending at NOK 37.6 million for the period, up from NOK 20.5 million in the third quarter last year. Profit before tax amounts to NOK 6.2 million, including NOK 10.5 million in unrealized loss on currency and interest derivative contracts, up from NOK 1.4 million in the corresponding period last year.

”We maintain our strong focus on securing high utilization and strict cost control, and I am pleased to see that this is reflected in strong growth in revenue and earnings. We have also renegotiated and extended agreements for three vessels and thereby secured full contract coverage for 2012, so the future looks bright,” says Roger Halsebakk, CEO of Sølvtrans.

Due to the positive development, the Board of Directors has decided to take the opportunity to award all fixed employees 500 shares in the company – “for their good efforts and achieved results so far in 2011”.

The outlook for the transport of salmon and trout is positive, as further growth in global production is expected, particularly in Chile, but also in Norway and Scotland that are considered the strategic most important markets for