Trans Viking is operated as a joint venture between the TransAtlantic Group and Viking Supply Ships A/S, Kristiansand, Norway.
Under the terms of the cooperation agreement for this joint venture, TransAtlantic shall assume responsibility for the operation of vessels, and Viking Supply Ships A/S in Kristiansand, Norway, shall be responsible for the vessels’ cargo operations in the offshore market. Trans Viking does not have any employees of its own. All financial consequences of the cooperation are shared equally between the parties. Operations are conducted in the companies Trans Viking Icebreaking & Offshore AS, which owns the Tor, Balder and Vidar Viking vessels, and the company Partrederiet Odin Viking DA, which owns
the Odin Viking vessel. In addition to the holdings in these two operational companies, 50% ownership is held in three companies, through which orders for four new offshore vessels were completed. The first vessel in this series will be delivered in the second quarter of 2010.
The table below shows the effects on the consolidated income statement and balance sheet of the consolidation of the joint venture companies according to the proportional method.
| SEK M | 2009 | 2008 |
| Amounts recognized in accordance with the Group’s share. | ||
| Income statement 1) | ||
| Operating revenue | 119 | 402 |
| Operating expenses | –125 | –137 |
| Operating profit/loss | –6 | 265 |
| Net financial items | –6 | –29 |
| Profit before tax | –12 | 236 |
| Tax | 0 | 27 |
| Profit/loss for the year | –12 | 263 |
| Balance sheet 1) | ||
| Fixed assets | 952 | 701 |
| Current assets | 197 | 254 |
| Total assets | 1,149 | 955 |
| Shareholders’ equity | 256 | 335 |
| Long-term liabilities | 849 | 599 |
| Current liabilities | 44 | 21 |
| Total shareholders’ equity and liabilities | 1,149 | 955 |
| Pledged assets | 1,122 | 873 |
| 1) Subtracted from Group share (50%) in joint-venture companies. | ||