Exmar NV is a Belgium-based shipping company that focuses on the operation of a fleet of gas carriers. The operational activities are divided among four sectors; The LPG/NH3 division is active in the Transport of liquid petroleum gas, anhydrous ammonia and chemical gases, primarily in ships of the Midsize type. The LNG division specializes in the transportation of liquid natural, as well as in the development of upstream and downstream LNG-projects. The Offshore division provides a range of goods and services to the oil and gas industry, including processing, storage and transshipment of oil and gases. The Services division focuses on the holding activities in Exmar Shipmanagement NV, which provides ship management services; Belgibo NV, which is engaged in insurance brokerage, and Travel Plus, which specializes in travel agency services. At December 31, 2008, Exmar had branches in Luanda, Shanghai and Tripoli.
Quick Financial Synopsis
BRIEF: For the six months ended 30 June 2009, Exmar NV's total revenue decreased 19% to $206.2M. Net income for the period totaled $35.7M, vs. a net loss of $3.5M. Total revenue reflects a decrease in demand for the Company's products and services as well as unfavorable market conditions. Net income for the period reflects a significant increase in financial income and a decrease in operating expenses.