Alba Shipping & Trading A/S

Development in activities and financial position




The group owns 10 chemical tankers. In addition the group currently operates 17 chemical tankers on commercial management and 2 chemical tankers on technical management. During the year the group has installed ballast water treatment plants on 5 vessels and with installation of the last plant in October 2023, the installation has now been completed on all vessels where required. In may 2023 the group acquired the chemical tanker, M/T Baltic. M/T Baltic was taken over in Gdansk and after a short docking period the vessel started trading in June 2023. The group obtained a loan from Svenska Skeppshypotek of 7m USD in October 2022 related to the purchase of m/t Biscay in September 2022. For the purchase of m/t Baltic in May 2023 the group obtained a loan from NIBC Bank for 11m USD. In connection with establishment of the loan facility for the purchase of m/t Baltic all existing loans with NIBC were also extended for 1 year. The group has a revolving credit facility with Nykredit for 6m USD which has been used as a short term financing option in connection with the purchase of m/t Baltic in addition to the loan obtained from NIBC. During the year the parent company reduced the share capital by purchase of nominal 476,768 own shares from a previous shareholder. The group extended the partnership with Besiktas during the year with the sale of additional 16% of the share capital in Alba Tankers Sweden AB, so that the commercial setup is now a 50/50 joint venture with Besiktas. The group’s vessels are primarily employed in the spot market, and thus the group has seen the benefit of a rising spot market during the year. The Group reports a profit for the year of USD (‘000) 18,214. Management considers the result for the year satisfactory.