We are committed to ensuring that SNTG
has the right size and quality fleet to reliably and efficiently meet the supply-chain needs of our valued customers worldwide, while also enabling us to capitalize on the strong growth opportunities in our markets.
For the full year, SNTG
reported income from operations before restructuring charges of $133.
has been granted conditional amnesty from prosecution and fines for violation of U.
Fritzner, Ship Management, Managing Director, will accept the award on behalf of SNTG
Fritzner, Chief Executive Officer of SNTG
, said, "We are continuously following the shipbuilding market worldwide and we placed this order following an evaluation of shipyards capable of building parcel tankers and giving very favorable delivery time and also following a thorough economic analysis of newbuilding costs and freight rates.
Fritzner, who was appointed Chief Executive Officer of SNTG
in June 2004 and remained responsible for ship management while conducting the search for his replacement.
In early 2001, SNTG
embarked upon a major strategic initiative to improve the utilization of our assets, divest non-core assets, and reduce our cost base.
As it is required by the terms of the notes, SNTG
is making an offer to purchase the notes funded from such proceeds (the "Offer").
estimates that the restructuring will enable annual cost savings of approximately $10 million by 2003 by consolidating operations in key regional centers eliminating some unnecessary management levels.
Under the time charter agreements, SNTG
has multiple extension and purchase options.
The purpose of this agreement is to improve service levels for SNTG
and JOT customers and increase operational efficiencies while maintaining the commercial independence of SNTG
Nasdaq: SNSA; Oslo Stock Exchange: SNI), today reported that the European Commission's Competition Directorate has informed SNTG
that the Competition Directorate has closed its investigation into possible collusive behavior in the intra- European inland barge industry.