Grieg Star Annual Report 2014 Final.pdf

Note 6
Investments in shares
GROUP
Figures in USD 1 000
Registered office Ownership Book value
Incentra (co-operative) Oslo 2.7% 2
Seabound Maritime (in process of dissolution) Manila 20.0% -
Grieg Philippines Inc. Makati City 20.0% 71
UACC Ross Tanker DIS Oslo 3.0% 158
Book value at 31.12 231
Incentra is a non-profit maritime purchasing organisation which seeks to ensure that the participants have the best possible suppliers of
spare parts and consumer goods. Framework agreements have been made with various suppliers on behalf of the organisation and the
Group currently has one person at the Board of Incentra.
Seabound Maritime was the Group’s manning agent in the Philippines until 2009
Grieg Philippines has been the Group’s manning agent in the Philippines since 2009.
UACC Ross Tanker DIS is a part-owned company owned by Grieg Star Bulk AS. Out-standing commitment amount is USD 120 000.
Note 7
Market-based investments
GROUP
Figures in USD 1 000 2014 2013
Acquisition cost Market value Acquisition cost Market value
Individual shareholdings 3 895 3 601 3 847 3 923
Mutual funds 32 227 40 662 37 867 52 715
Bonds 26 242 30 430 28 830 34 532
Money market funds 32 350 32 352 20 978 21 009
Hedge funds 19 097 21 053 18 028 19 815
Book value at 31.12 113 813 128 099 109 550 131 994
2014
Realised Unrealised Total profit/loss
Listed shares - (321) (321)
Mutual funds 8 230 (4 578) 3 652
Bonds 3 077 (1 178) 1 899
Money market funds 203 (1 087) (884)
Hedge funds (134) 423 289
Proft/loss from market-based investments 11 375 (6 741) 4 635
GRIEG STAR
2014
18
ANNUAL REPORT