They earned a million from "Kotor".

The maritime company "Crnogorska plovidba" ended its half-year operations with a loss of 380.592 euros, the data are from the financial report of the Kotor company published on the website of the Securities Commission.

In the first six months of this year, "Crnogorska plovidba" generated an income of 1.050.017 euros from the rent of their only ship - the handy size bulk carrier "Kotor", which, since the handover in mid-January at the Chinese shipyard Shanghai Shipyard, was given in the so-called time charter for a year to the charterer "Panocean".

A rough calculation, assuming that until June 30, when the prepared report was published on the website of the Commission, "Kotor" had been on lease for "Panoecana" for 165 days, shows that the daily freight rate of that ship is about 7,7 thousand dollars.

Maritime experts who follow the state of the world shipping space market, expect that the new, second ship "Crnogorsk plovidba" that will leave the shipyard in Shanghai on August 28, the bulk carrier "Dvadeset Prvi May", will be able to be concluded in time charter at a lower price than "Kotor" because freight rates have fallen further.

According to the business report, "Crnogorska plovidba" had expenses of 1.329.623 euros from January to the end of June. Employee salary costs amounted to 123.823 euros, significantly less than in the comparable period last year when they were 208.263 euros.

Compared to the first half of 2011, the costs of depreciation and provisioning increased significantly, which for six months of this year amounted to 393.725 euros.

This shows that the Kotor maritime company has already started to put money "on the side" to repay the loan to the Chinese Exim Bank taken for the construction of the ships "Kotor" and "Twenty-first May" in China.

Compared to last year, the item "other business expenses" has increased by almost three times, amounting to 620.447 euros, and the explanation is probably that the salaries of the "Kotor" crew, which is hired on the basis of a fixed-term contract, are booked in this way.

By the way, "Kotor" has made ten commercial voyages between ports in Japan, Guatemala, Panama, Israel, Brazil, the USA, the Netherlands and Estonia since entering commercial operation in mid-January. The ship "XNUMXst of May" is currently completing trial runs in China.

The ceremony of its official handover should take place on August 28, when the ship will be officially "christened" in Shanghai by its godfather, Prime Minister Igor Lukšić.

"Kotor" and "Dvadeset prvi May" each have five loading bays with a total volume of 44 thousand cubic meters and four sets of deck cranes with a capacity of 30 tons each.

According to the business report, "Crnogorska plovidba" had expenses of 1.329.623 euros from January to the end of June. Employee salary costs amounted to 123.823 euros, significantly less than in the comparable period last year, when they were 208.263 euros.

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