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News Breaks
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October 28, 2009
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| 07:37 EDT |  | KSP |
| theflyonthewall.com: | K-Sea Trans expects to phase out single-hulls in near-term | | President and CEO Timothy J. Casey said, “Given the current and expected market conditions, we expect to phase out our single-hulls in the near-term. Our depreciation and amortization expense in the first fiscal quarter includes an asset impairment charge of $5.9 million in respect of our single-hull equipment. The early phase-out will result in a reduction of $1.4M per year in our provision for maintenance capital expenditures and should therefore increase our annual distributable cash flow.” :theflyonthewall.com |
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