SBLK » Topics » Vessel Impairment Loss:

This excerpt taken from the SBLK 6-K filed Sep 30, 2009.
Vessel Impairment Loss: For the six month period ended June 30, 2009, we did not record a vessel impairment loss compared to a $4.6 million loss for the six month period ended June 30, 2008. On April 24, 2008, we entered into an agreement to sell the Star Iota for gross proceeds of $18.4 million less $1.8 million of costs associated with the sale.  We delivered this vessel to its purchasers on October 6, 2008.  The Star Iota was classified as vessel held for sale during the first quarter of 2008 which resulted in an impairment loss of $4.6 million because the vessel was recorded at the lower of its carrying amount or fair value less cost to sell.

This excerpt taken from the SBLK 20-F filed Apr 16, 2009.
Vessel Impairment Loss: On April 24, 2008, we entered into an agreement to sell the Star Iota for gross proceeds of $18.4 million less $1.8 million of costs associated with the sale.  We delivered this vessel to its purchasers on October 6, 2008.  The Star Iota was classified as a vessel held for sale during the first quarter of 2008 which resulted in an impairment loss of $3.6 million as the vessel was recorded at the lower of its carrying amount or fair value less cost to sell.
 
This excerpt taken from the SBLK 6-K filed Dec 3, 2008.
Vessel Impairment Loss: As of September 30, 2008, the vessel Star Iota was classified as an asset held for sale and recorded at the lower of its carrying amount or fair value less cost to sell. The resulting impairment loss of $3.6 million was recorded in the nine months ended September 30, 2008.
 
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki