Exmar, Belgium, reported an operating result (EBIT) of US$5.6 million for the first quarter 2010 compared with US$9.2 million for the first quarter 2009.
The Antwerp-based company reported a turnover of US$104.7 million in 2010 compared with US$99.2 million the year before.
The operating result (EBIT) of the LPG fleet was US$1.4 million compared with US$0.3 million for the first three months of 2009.
Exmar said that market conditions within this segment have improved on the back of increasing export volumes ex-Black Sea and a substantial flow of LPG import requirements into India. However, the series of newbuilding deliveries has not come to an end yet and Exmar expects that the balance of the year will remain challenging.
The LNG fleet contributed US$11 million to the operating result (EBIT) of the first three months (compared with US$9.7 million for the same period in 2009).
The operating result for the company's offshore division was a loss of US$6.9 million compared with the loss of US$0.4 million the year before.
{WISroYQ symbol='EXM.BR'}
