MONACO: Scorpio Bulkers Inc. reported its results for the three and nine months. For the three months ended September 30, 2015, the Company’s adjusted net loss was $16.3 million, or $0.05 adjusted loss per diluted share, which excludes (i) a loss / write down on assets held for sale of $0.3 million and (ii) the $1.4 million write off of a portion of the deferred financing costs of two credit facilities, or $0.01 loss per diluted share (see Non-GAAP Measures section below). For the three months ended September 30, 2015, the Company had a GAAP net loss of $18.1 million, or $0.06 loss per diluted share. This loss includes the loss / write down on assets held for sale, the write off of a portion of deferred financing costs accumulated on two credit facilities for which the commitments were reduced pursuant to the removal from the facilities of certain vessels that have been classified as held for sale, and the noncash amortization of stock-based compensation of $6.3 million.
For the three months ended September 30, 2014, the Company had a net loss of $18.9 million, or $0.14 loss per diluted share including noncash amortization of stock-based compensation of $6.3 million.
For the nine months ended September 30, 2015, the Company’s adjusted net loss was $49.7 million, or $0.22 adjusted loss per diluted share, which excludes (i) a loss / write down on assets held for sale of $151.7 million and (ii) the $7.3 million write off of a portion of the deferred financing costs of three credit facilities, or $0.68 loss per diluted share (see Non-GAAP Measures section below). For the nine months ended September 30, 2015, the Company had a GAAP net loss of $208.8 million, or $0.90 loss per diluted share. This loss includes the loss / write down on assets held for sale, the write off of a portion of deferred financing costs accumulated on three credit facilities for which the commitments were reduced pursuant to the removal from the facilities of certain vessels that have been classified as held for sale, and the noncash amortization of stock-based compensation of $18.5 million.
For the nine months ended September 30, 2014, the Company had a net loss of $44.6 million, or $0.34 loss per diluted share including noncash amortization of stock-based compensation of $17.6 million.
Shipping activity at Port Qasim on February 11
KARACHI: Three ships namely, Glen Canyon, Al-Salam- II and TSM Pollux carrying Containers, Gas oil and Palm oil were arranged...
