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(Expressed in thousands of U.S. Dollars) As of March 31, As of December 31, ------------------ ------------------ 2012 2011 ------------------ ------------------ (Unaudited) ------------------ ------------------Consolidated statement of financial position data:Vessels, net 238,977 242,507Office furniture and equipment 89 75Other non-current assets 10 10Total non-current assets 239,076 242,592Cash and bank balances and bank deposits 9,350 9,301Trade receivables, net 2,906 1,386Inventories 634 554Prepayments and other assets 3,631 2,226Total current assets 16,521 13,467Total assets 255,597 256,059Share capital 40 40Share premium 109,420 109,229Retained earnings 30,864 30,750Total equity 140,324 140,019Long-term borrowings, net of current portion 104,192 105,518Provision for staff retirement indemnities 69 66Total non-current liabilities 104,261 105,584Current portion of long-term borrowings 5,300 5,297Trade accounts payable 1,899 945Accrued liabilities and other payables 1,192 1,206Derivative financial instruments 1,387 1,431Deferred revenue 1,234 1,577Total current liabilities 11,012 10,456Total Liabilities 115,273 116,040Total equity and liabilities 255,597 256,059
Three Months Ended March 31,(Expressed in thousands of U.S. Dollars) (Unaudited) 2012 2011Statement of cash flow data:Net cash generated from operating activities 3,794 4,385Net cash used in investing activities (6) (3,026)Net cash used in financing activities (3,749) (2,209)
Three Months Ended March 31, ------------------------------ 2012 2011 -------------- --------------Ownership days (1) 637 450Available days (2) 637 436Operating days (3) 633 434Bareboat charter days (4) 91 90Fleet utilization (5) 99.4% 99.5%Average number of vessels (6) 7.0 5.0Daily time charter equivalent (TCE) rate (7) $ 14,764 $ 18,012Daily operating expenses (8) $ 4,758 $ 4,397
