Interim report January-March 2010

* Net revenues amounted to SEK 563 M (603)
  * Loss before tax amounted to SEK 85 M (loss 61)
  * Loss after tax amounted to SEK 3 M (loss 50)
  * Earnings per share amounted to a loss of SEK 0,1 (loss 1,8)
  * The three combined offshore/icebreaking vessels were dispatched to the
    Swedish Maritime Administration for icebreaking in the Baltic Sea during the
    February-March period.
  * The overtime ban and the dock workers strike in Finland had a negative
    impact of about SEK 20 M on revenues for the Industrial Shipping business
    area.
  * The consequences of the Norwegian Supreme Court's ruling entailed a positive
    effect on tonnage tax SEK 65 M.
 
In general, the shipping market improved during early 2010, driven mainly by the
continued strong economic development in China and the rest of Asia. This strong
growth  gave rise to  a significant rise  in demand for  raw materials, which in
turn  generated higher  demand for  primarily larger  bulk and  tank tonnage. We
noted  an  increase  in  demand  in  the  segments  and  traffic  areas in which
TransAtlantic  operates. A number  of our customers  are carrying larger volumes
than  they did in the  preceding year, and most  of them are planning for higher
volumes  during  the  remainder  of  2010. Our  assessment  is  that  the demand
situation  has passed the lowest point and that a recovery will occur during the
year,  albeit a  slow one.  However, the  market situation  is very difficult to
predict  and the variations for individual  customers and market segments may be
considerable.
The  result in the Business Area Industrial Shipping has been adversely affected
by  the conflict in the Finnish ports during February and March. It is estimated
that the conflict has cost about SEK 20 M, which has to seen as a one-time cost.
The   result  in  Industrial  Shipping  business  area  performance  is  clearly
unsatisfactory,  and for the period  amounted to SEK -60  M. During 2010 we will
continue  work on a cost  adjustment and in the  short-term, we will return five
leased vessels during the year.
 
For  Business Offshore/Icebreaking  all three  combined offshore/icebreaker been
withdrawing by the Swedish Maritime Administration for icebreaking in the Baltic
Sea  during February-March. During the remainder of the period, the vessels were
operating  on the spot  market in North  sea to low  rates and low activity. The
business  area's income amounted to SEK -12M. Accordingly, the overall effect on
earnings  of  the  ice-breaking  operations  in  the  Baltic  Sea was limited. A
particular  focus  is  to  sign  long-term  contracts for our new buildings. All
offshore  vessels will  be during  the summer  and autumn  leased out  to longer
contracts outside the North Sea.
Stefan Eliasson
t.f VD
 
Press conference
In conjunction with the publication of the  Interim report January - March, a
teleconference will be held with media, investors and analysts on Thursday,
April 29, at 09:00, am with Acting CEO Stefan Eliasson and CFO Ola Helgesson.
 
More information at our homepagewww.rabt.se <http://www.rabt.se/>.
 
Those who wish to participate in the telephone conference call,
please call +46 8 23 23 90, code 892 111
 
This interim report is available in its entirety on the company
website,www.rabt.se <http://www.rabt.se/>.
Read               the               full              report              here:
 
[HUG#1409327]
 
Interim Report January - March 2010: http://hugin.info/135816/R/1409327/361906.pdf
    Press release (PDF): http://hugin.info/135816/R/1409327/361905.pdf