Printer Friendly

IM Skaugen subsidiary issues statement regarding Hurricane Katrina.

NORDIC BUSINESS REPORT-5 September 2005-IM Skaugen subsidiary issues statement regarding Hurricane Katrina(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com

The Norwegian shipping company IM Skaugen ASA said on Monday (5 September) its 50%-owned subsidiary SPT had issued a statement regarding the effects of Hurricane Katrina on its operations.

SPT had only a brief interruption at the height of the storm, and all of its vessels were within days operating at pre-storm utilisation levels, according to the company.

There was no physical damage to SPT's fleet, nor injury to the crews aboard the vessels, the company added.

In total, SPT estimates that it lost very few operating days to Katrina-related delays.

The reduced capacity in the oil import infrastructure would last for some time and would cause volumes of crude oil to be imported to be lower for some days or weeks, but crude vessels would also be employed as storage vessels.

Overall utilisation would thus not be impacted to a great extent, the company said.

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))

COPYRIGHT 2005 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:4EXNO
Date:Sep 5, 2005
Words:180
Previous Article:Indiagames selects Terraplay Systems AB's server solution.
Next Article:Vodafone Sweden launches online backup service for mobile phones.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters