Pioneer Marine Inc. third quarter 2016 results

By November 15, 2016 May 11th, 2019 No Comments

For the third quarter of 2016 the Company reported a net loss of $2.8 million, or $0.10 per share basic and diluted.

For the nine-month period ended September 30, 2016, the Company reported a net loss of $23.5 million, or $0.78 per share basic and diluted which includes charges and write off of capitalised expenses amounting to $11.6 million as a result of the termination of seven newbuilding contracts (“newbuilding contract termination agreement”). Excluding these charges, the net loss is $11.8 million or $0.39 per share basic and diluted for the nine-month period ended September 30, 2016.

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