Belships ASA

Belships ASA (OSL:BEL) RESULTS Belships' operating income in Q3 amounted to USD 22,569,000 (Q3 2007: USD 15,323,000). The company's operating result amounted to USD 7,459,000 (USD 2,720,000). The increase in operating income is related to Elkem Chartering's handysize operations and includes recognition of USD 3.5 million in income received in connection with the cancellation of a charter party. The result after tax for Q3 amounted to USD 5,024,000 (USD 2,060,000). The result after tax for the first three quarters of the year amounted to USD 13,366,000 (USD 11,996,000). The accounts for the period 1 January to 30 September have been prepared in accordance with IAS 34 Interim Financial Reporting. The information in the interim report provides a correct picture of the company's and the group's assets, liabilities, financial position and result as a whole, and provides a corrective overview of the information listed in the Norwegian Securities Trading Act, section 5-6, subsection four.

Belships ASA (OSL:BEL) RESULTS Belships' operating income in the 2nd quarter of 2008 was USD 25,705,000 (2nd quarter 2007: USD 13,370,000). The company's operating profit totalled USD 4,884,000 (USD 2,847,000). This increase in operating profit is related to Elkem Chartering's handysize operations, which also contributed a positive profit development. Profit after tax in the 2nd quarter was USD 4,477,000 (USD 1,987,000). Profit after tax in the first half-year was USD 8,342,000 (USD 9,936,000). Last year's profit includes realised gain of USD 6.5 million upon terminating the charter party of M/S Belpareil. The half-yearly accounts for the period 1 January to 30 June 2008 have been prepared in accordance with IAS 34, Interim Financial Reporting. The information in the half-yearly report gives a true picture of the enterprise's and the Group's assets, liabilities, financial position and results as a whole and a true overview of the information required in section 5-6 fourth subsection of ...