MC Shipping Announces Dividend and Completion of Change in Technical Management
16 10์ 2006 - 8:43PM
Business Wire
MC Shipping Inc. (AMEX: MCX) (the ๏ฟฝCompany๏ฟฝ), a leading liquefied
petroleum gas (LPG) maritime carrier, announced today that its
Board of Directors has declared a quarterly cash dividend of
$0.0625 per share of common stock payable on November 3, 2006 to
shareholders of record as of October 20, 2006. The Company also
announced that it has now completed the transfer of the technical
management of its LPG fleet to three of the world๏ฟฝs major marine
services groups, Anglo-Eastern and Wallem of Hong Kong, and
Hanseatic Shipping of Cyprus. These three independent managers
chosen on competitive basis will look after the Company๏ฟฝs 15-ship
strong fleet of LPG tankers. The Company๏ฟฝs remaining container
ships will remain with the current managers ๏ฟฝWe anticipate the
shareholders to benefit from this change to unrelated managers who,
we trust, will maintain our ships up to the highest standards of
safety and quality,๏ฟฝ commented Tony Crawford, CEO of MC Shipping.
๏ฟฝOne of our new managers, Hanseatic Shipping has just passed its
first test by exceptional circumstances,๏ฟฝ continued Crawford. ๏ฟฝLast
month, our vessel, Kew Bridge suffered an unfortunate grounding
incident off the Indian coast, and we praise the crew and managers๏ฟฝ
professionalism in handling this difficult situation. We are
pleased to state that no one was hurt and that there was no
environmental damage caused by this incident. ๏ฟฝThe ship is now
safely afloat and we are assessing extent of damages and estimated
repair needs. We do not, however, expect this incident to have a
material impact on the Company๏ฟฝs results since the costs are
largely recoverable under the vessel๏ฟฝs insurance,๏ฟฝ concluded
Crawford. ABOUT MC SHIPPING INC. MC Shipping Inc. is an
international shipping company focused on maritime transportation
of the liquefied petroleum gas (LPG), with headquarters in Monaco
and an office in London. MC Shipping fully or partially owns and
operates a diversified fleet of 19 vessels that serve the world๏ฟฝs
major oil, gas, shipping and trading companies. MC Shipping Inc.
(AMEX: MCX) (the "Company"), a leading liquefied petroleum gas
(LPG) maritime carrier, announced today that its Board of Directors
has declared a quarterly cash dividend of $0.0625 per share of
common stock payable on November 3, 2006 to shareholders of record
as of October 20, 2006. The Company also announced that it has now
completed the transfer of the technical management of its LPG fleet
to three of the world's major marine services groups, Anglo-Eastern
and Wallem of Hong Kong, and Hanseatic Shipping of Cyprus. These
three independent managers chosen on competitive basis will look
after the Company's 15-ship strong fleet of LPG tankers. The
Company's remaining container ships will remain with the current
managers "We anticipate the shareholders to benefit from this
change to unrelated managers who, we trust, will maintain our ships
up to the highest standards of safety and quality," commented Tony
Crawford, CEO of MC Shipping. "One of our new managers, Hanseatic
Shipping has just passed its first test by exceptional
circumstances," continued Crawford. "Last month, our vessel, Kew
Bridge suffered an unfortunate grounding incident off the Indian
coast, and we praise the crew and managers' professionalism in
handling this difficult situation. We are pleased to state that no
one was hurt and that there was no environmental damage caused by
this incident. "The ship is now safely afloat and we are assessing
extent of damages and estimated repair needs. We do not, however,
expect this incident to have a material impact on the Company's
results since the costs are largely recoverable under the vessel's
insurance," concluded Crawford. ABOUT MC SHIPPING INC. MC Shipping
Inc. is an international shipping company focused on maritime
transportation of the liquefied petroleum gas (LPG), with
headquarters in Monaco and an office in London. MC Shipping fully
or partially owns and operates a diversified fleet of 19 vessels
that serve the world's major oil, gas, shipping and trading
companies.
M C Shipping (AMEX:MCX)
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