Page 78 - Icon Energy 2014 Annual Report
Basic HTML Version
ï‰ïƒï1ï€ (1(ï’*<ï€ /ï‰ïï‰ï”(ï„ï€ ï1ï„ï€ ï‰ï”ï“ï€ ïƒï1ï”ï’ï//(ï„ï€ (1ï”ï‰ï”ï‰(ï“
)ïï’ï€ ï”+ï…ï€ <ï…ïï’ï€ ï…ïŽï„ï…ï„ï€ ï€ -8ïŽï…ï€
ï€ -XQHï€
ï€ -XQHï€
ï†ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï©ï®ï³ï´ï²ïµïï¥ï®ï´ï³ï€ ï£ï¯ïï°ï²ï©ï³ï¥ï€ ï¯ï¦ï€ ï´ï¨ï¥ï€ ï¦ï¯ï¬ï¬ï¯ï·ï©ï®ï§ï€º
1ïï”(
)LQDQFLDOï€ ïVVHWV
ïƒï¡ï³ï¨ï€ ï¡ï®ï¤ï€ ï£ï¡ï³ï¨ï€ ï¥ï±ïµï©ï¶ï¡ï¬ï¥ï®ï´ï³


ï€ ï€ ï€ ï€ ï€
 
ï€ ï€ ï€ ï€
/ï¯ï¡ï®ï³ï€ ï¡ï®ï¤ï€ ï²ï¥ï£ï¥ï©ï¶ï¡ï¢ï¬ï¥ï³ï€º
ï”ï²ï¡ï¤ï¥ï€ ï¡ï®ï¤ï€ ï¯ï´ï¨ï¥ï²ï€ ï²ï¥ï£ï¥ï©ï¶ï¡ï¢ï¬ï¥ï³

ï€ ï€ ï€ ï€ ï€

ï€ ï€ ï€ ï€ ï€ ï€
+ï¥ï¬ï¤ï€ ï´ï¯ï€ ïï¡ï´ïµï²ï©ï´ï¹ï€ ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï¡ï³ï³ï¥ï´ï³ï€º
ï”ï¥ï²ïï€ ï¤ï¥ï°ï¯ï³ï©ï´ï€


ï€ ï€ ï€

ï€ ï€ ï€ ï€
ïï¶ï¡ï©ï¬ï¡ï¢ï¬ï¥ï€ ï¦ï¯ï²ï€ ï³ï¡ï¬ï¥ï€ ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï¡ï³ï³ï¥ï´ï³ï€º
ïï©ï®ï¥ï²ï¡ï¬ï€ ï©ï®ï´ï¥ï²ï¥ï³ï´ï€ ï©ï®ï€ :ï¥ï³ï´ï€ ï‚ï¡ï´ï¯ï®


ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€

ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€
)LQDQFLDOï€ ïŒLDELOLWLHV
+ï¥ï¬ï¤ï€ ï¡ï´ï€ ï¡ïï¯ï²ï´ï©ï³ï¥ï¤ï€ ï£ï¯ï³ï´
ï”ï²ï¡ï¤ï¥ï€ ï¡ï®ï¤ï€ ï¯ï´ï¨ï¥ï²ï€ ï°ï¡ï¹ï¡ï¢ï¬ï¥ï³

  
ï€ ï€ ï€ ï€
 
ï€ ï€ ï€ ï€ ï€ ï€ ï€
ï‚ï¯ï²ï²ï¯ï·ï©ï®ï§ï³

ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€ ï€
 
ï€ ï€ ï€ ï€ ï€ ï€
ï“LJQLILFDQWï€ ïFFRXQWLQJï€ 3ROLFLHV
ïƒDSLWDOï€ ï’LVNï€ 0DQDJHPHQW
)LQDQFLDOï€ ï’LVNï€ 0DQDJHPHQW
D
0DUNHWï€ ï’LVN
ï‰QWHUHVWï€ UDWHï€ ULVN
ïŽïï”ï…ï€ ï€ ï€ )ï‰ïŽïïŽïƒï‰ïïŒï€ ï‰ïŽï“ï”ï’80ï…ïŽï”ï“
ï”ï¨ï¥ï€ ïï¡ï©ï®ï€ ï°ïµï²ï°ï¯ï³ï¥ï€ ï¯ï¦ï€ ï®ï¯ï® ï¤ï¥ï²ï©ï¶ï¡ï´ï©ï¶ï¥ï€ ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï©ï®ï³ï´ï²ïµïï¥ï®ï´ï³ï€ ï©ï³ï€ ï´ï¯ï€ ï²ï¡ï©ï³ï¥ï€ ï¦ï©ï®ï¡ï®ï£ï¥ï€ ï¦ï¯ï²ï€ ï´ï¨ï¥ï€ ï£ï¯ï®ï³ï¯ï¬ï©ï¤ï¡ï´ï¥ï¤ï€ ï¥ï®ï´ï©ï´ï¹ï€ ï¯ï°ï¥ï²ï¡ï´ï©ï¯ï®ï³ï€®
ï”ï¨ï¥ï€ ï£ï¯ï®ï³ï¯ï¬ï©ï¤ï¡ï´ï¥ï¤ï€ ï¥ï®ï´ï©ï´ï¹ï€§ï³ï€ ï¯ï¶ï¥ï²ï¡ï¬ï¬ï€ ï³ï´ï²ï¡ï´ï¥ï§ï¹ï€ ï²ï¥ïï¡ï©ï®ï³ï€ ïµï®ï£ï¨ï¡ï®ï§ï¥ï¤ï€ ï¦ï²ï¯ïï€ ï€²ï€°ï€±ï€³ï€®
ï”ï¨ï¥ï€ ï¢ï¯ï¡ï²ï¤ï€ ï¯ï¦ï€ ï¤ï©ï²ï¥ï£ï´ï¯ï²ï³ï€ ï¡ï®ï¡ï¬ï¹ï³ï¥ï€ ï£ïµï²ï²ï¥ï®ï£ï¹ï€ ï¡ï®ï¤ï€ ï©ï®ï´ï¥ï²ï¥ï³ï´ï€ ï²ï¡ï´ï¥ï€ ï¥[ï°ï¯ï³ïµï²ï¥ï€ ï¡ï®ï¤ï€ ï¥ï¶ï¡ï¬ïµï¡ï´ï¥ï€ ï´ï²ï¥ï¡ï³ïµï²ï¹ï€ ïï¡ï®ï¡ï§ï¥ïï¥ï®ï´ï€ ï³ï´ï²ï¡ï´ï¥ï§ï©ï¥ï³ï€ ï©ï®ï€ ï´ï¨ï¥ï€
ï£ï¯ï®ï´ï¥[ï´ï€ ï¯ï¦ï€ ï´ï¨ï¥ï€ ïï¯ï³ï´ï€ ï²ï¥ï£ï¥ï®ï´ï€ ï¥ï£ï¯ï®ï¯ïï©ï£ï€ ï£ï¯ï®ï¤ï©ï´ï©ï¯ï®ï³ï€ ï¡ï®ï¤ï€ ï¦ï¯ï²ï¥ï£ï¡ï³ï´ï³ï€®ï€
ï”ï¨ï¥ï€ ï¢ï¯ï¡ï²ï¤ï€ ï¯ï¦ï€ ï¤ï©ï²ï¥ï£ï´ï¯ï²ï³ï€ ï²ï¥ï¶ï©ï¥ï·ï€ ï´ï¨ï¥ï€ ï£ï¡ï°ï©ï´ï¡ï¬ï€ ï³ï´ï²ïµï£ï´ïµï²ï¥ï€ ï¯ï®ï€ ï¡ï€ ï²ï¥ï§ïµï¬ï¡ï²ï€ ï¢ï¡ï³ï©ï³ï€®ï€ ïï³ï€ ï¡ï€ ï°ï¡ï²ï´ï€ ï¯ï¦ï€ ï´ï¨ï¥ï€ ï²ï¥ï¶ï©ï¥ï·ï€ ï´ï¨ï¥ï€ ï¢ï¯ï¡ï²ï¤ï€ ï£ï¯ï®ï³ï©ï¤ï¥ï²ï³ï€ ï´ï¨ï¥ï€ ï£ï¯ï³ï´ï€ ï¯ï¦ï€
ï£ï¡ï°ï©ï´ï¡ï¬ï€ ï¡ï®ï¤ï€ ï´ï¨ï¥ï€ ï²ï©ï³Nï³ï€ ï¡ï³ï³ï¯ï£ï©ï¡ï´ï¥ï¤ï€ ï·ï©ï´ï¨ï€ ï¥ï¡ï£ï¨ï€ ï£ï¬ï¡ï³ï³ï€ ï¯ï¦ï€ ï£ï¡ï°ï©ï´ï¡ï¬ï€®
7ï¨ï¥ï€ ï£ï¯ï®ï³ï¯ï¬ï©ï¤ï¡ï´ï¥ï¤ï€ ï¥ï®ï´ï©ï´ï¹ï‚’ï³ï€ ï²ï©ï³Nï€ ïï¡ï®ï¡ï§ï¥ïï¥ï®ï´ï€ ï°ï²ï¯ï§ï²ï¡ïï€ ï¦ï¯ï£ïµï³ï¥ï³ï€ ï¯ï®ï€ ï´ï¨ï¥ï€ ïµï®ï°ï²ï¥ï¤ï©ï£ï´ï¡ï¢ï©ï¬ï©ï´ï¹ï€ ï¯ï¦ï€ ï´ï¨ï¥ï€ ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ïï¡ï²Nï¥ï´ï³ï€ ï¡ï®ï¤ï€
ï³ï¥ï¥Nï³ï€ ï´ï¯ï€ ïï©ï®ï©ïï©ï³ï¥ï€ ï´ï¨ï¥ï€ ï°ï¯ï´ï¥ï®ï´ï©ï¡ï¬ï€ ï¡ï¤ï¶ï¥ï²ï³ï¥ï€ ï¥ï¦ï¦ï¥ï£ï´ï³ï€ ï¯ï¦ï€ ï´ï¨ï¥ï€ ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï°ï¥ï²ï¦ï¯ï²ïï¡ï®ï£ï¥ï€ ï¯ï¦ï€ ï´ï¨ï¥ï€ ï£ï¯ï®ï³ï¯ï¬ï©ï¤ï¡ï´ï¥ï¤ï€ ï¥ï®ï´ï©ï´ï¹ï€¬ï€ ï¢ï¹ï€ ï·ï¡ï¹ï€ ï¯ï¦ï€
ï¶ï¡ï²ï©ï¯ïµï³ï€ ïï¥ï¡ï³ïµï²ï¥ï³ï€ ï¤ï¥ï´ï¡ï©ï¬ï¥ï¤ï€ ï¢ï¥ï¬ï¯ï·ï€®
ï’ï©ï³Nï€ ïï¡ï®ï¡ï§ï¥ïï¥ï®ï´ï€ ï©ï³ï€ ï£ï¡ï²ï²ï©ï¥ï¤ï€ ï¯ïµï´ï€ ï¢ï¹ï€ ï´ï¨ï¥ï€ ï¢ï¯ï¡ï²ï¤ï€ ï¯ï¦ï€ ï¤ï©ï²ï¥ï£ï´ï¯ï²ï³ï€¬ï€ ï´ï¨ï¥ï€ ï¡ïµï¤ï©ï´ï€ ï¡ï®ï¤ï€ ï²ï©ï³Nï€ ïï¡ï®ï¡ï§ï¥ïï¥ï®ï´ï€ ï£ï¯ïïï©ï´ï´ï¥ï¥ï€¬ï€ ï¡ï®ï¤ï€ Nï¥ï¹ï€ ïï¡ï®ï¡ï§ï¥ïï¥ï®ï´ï€
ï°ï¥ï²ï³ï¯ï®ï®ï¥ï¬ï€®
ï”ï¨ï¥ï€ ï£ï¯ï®ï³ï¯ï¬ï©ï¤ï¡ï´ï¥ï¤ï€ ï¥ï®ï´ï©ï´ï¹ï€§ï³ï€ ï©ï®ï´ï¥ï²ï¥ï³ï´ï€ ï²ï¡ï´ï¥ï€ ï²ï©ï³Nï€ ï¡ï²ï©ï³ï¥ï³ï€ ïï¡ï©ï®ï¬ï¹ï€ ï¦ï²ï¯ïï€ ï´ï¨ï¥ï€ ï´ï¥ï²ïï€ ï¤ï¥ï°ï¯ï³ï©ï´ï³ï€ ï¡ï®ï¤ï€ ï£ï¡ï³ï¨ï€ ï¡ï®ï¤ï€ ï£ï¡ï³ï¨ï€
ï¥ï±ïµï©ï¶ï¡ï¬ï¥ï®ï´ï³ï€®ï”ï¨ï¥ï€ ï¥ï®ï´ï©ï´ï¹ï€ ï©ï³ï€ ï®ï¯ï€ ï¬ï¯ï®ï§ï¥ï²ï€ ï¥[ï°ï¯ï³ï¥ï¤ï€ ï´ï¯ï€ ï´ï¨ï¥ï€ ï©ï®ï´ï¥ï²ï¥ï³ï´ï€ ï²ï¡ï´ï¥ï€ ï²ï©ï³Nï€ ï¡ï²ï©ï³ï©ï®ï§ï€ ï¦ï²ï¯ïï€ ï´ï¨ï¥ï€ ï¢ï¡ï®Nï€ ï¬ï¯ï¡ï®ï€ ï¡ï³ï€ ï´ï¨ï¥ï€ ï¢ï¯ï²ï²ï¯ï·ï©ï®ï§ï€
ï·ï¡ï³ï€ ï³ï¥ï´ï´ï¬ï¥ï¤ï€ ï©ï®ï€ ï„ï¥ï£ï¥ïï¢ï¥ï²ï€ 
ï”ï¨ï¥ï€ ï£ï¡ï²ï²ï¹ï©ï®ï§ï€ ï¶ï¡ï¬ïµï¥ï³ï€ ï¯ï¦ï€ ï¬ï¯ï¡ï®ï³ï€ ï¡ï®ï¤ï€ ï²ï¥ï£ï¥ï©ï¶ï¡ï¢ï¬ï¥ï³ï€¬ï€ ï¨ï¥ï¬ï¤ï€ ï´ï¯ï€ ïï¡ï´ïµï²ï©ï´ï¹ï€ ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï¡ï³ï³ï¥ï´ï³ï€ ï¡ï®ï¤ï€ ï¨ï¥ï¬ï¤ï€ ï¡ï´ï€ ï¡ïï¯ï²ï´ï©ï³ï¥ï¤ï€ ï£ï¯ï³ï´ï€ ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï¬ï©ï¡ï¢ï©ï¬ï©ï´ï©ï¥ï³ï€
ï¡ï°ï°ï²ï¯[ï©ïï¡ï´ï¥ï€ ï´ï¨ï¥ï©ï²ï€ ï¦ï¡ï©ï²ï€ ï¶ï¡ï¬ïµï¥ï€®
ïŽïï”ï…ï“ï€ ï”ïï€ ï”+ï…ï€ ïƒïïŽï“ïïŒï‰ï„ïï”ï…ï„ï€ )ï‰ïŽïïŽïƒï‰ïïŒï€ ï“ï”ïï”ï…0ï…ïŽï”ï“
ï”ï¨ï¥ï€ ï£ï¯ï®ï³ï¯ï¬ï©ï¤ï¡ï´ï¥ï¤ï€ ï¥ï®ï´ï©ï´ï¹ï€ ïï¡ï®ï¡ï§ï¥ï³ï€ ï©ï´ï³ï€ ï£ï¡ï°ï©ï´ï¡ï¬ï€ ï´ï¯ï€ ï¥ï®ï³ïµï²ï¥ï€ ï´ï¨ï¡ï´ï€ ï©ï´ï€ ï·ï©ï¬ï¬ï€ ï¢ï¥ï€ ï¡ï¢ï¬ï¥ï€ ï´ï¯ï€ ï£ï¯ï®ï´ï©ï®ïµï¥ï€ ï¡ï³ï€ ï¡ï€ ï§ï¯ï©ï®ï§ï€ ï£ï¯ï®ï£ï¥ï²ï®ï€ ï¡ï®ï¤ï€ ï°ï²ï¯ï¶ï©ï¤ï¥ï€ ï¯ï°ï´ï©ïï¡ï¬ï€
ï²ï¥ï´ïµï²ï®ï€ ï´ï¯ï€ ï³ï¨ï¡ï²ï¥ï¨ï¯ï¬ï¤ï¥ï²ï³ï€ ï´ï¨ï²ï¯ïµï§ï¨ï€ ï´ï¨ï¥ï€ ï¯ï°ï´ï©ïï©ï³ï¡ï´ï©ï¯ï®ï€ ï¯ï¦ï€ ï´ï¨ï¥ï€ ï¤ï¥ï¢ï´ï€ ï¡ï®ï¤ï€ ï¥ï±ïµï©ï´ï¹ï€ ï¢ï¡ï¬ï¡ï®ï£ï¥ï€®
7ï¨ï¥ï€ ï£ï¯ï®ï³ï¯ï¬ï©ï¤ï¡ï´ï¥ï¤ï€ ï¥ï®ï´ï©ï´ï¹ï‚’ï³ï€ ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï©ï®ï³ï´ï²ïµïï¥ï®ï´ï³ï€ ï£ï¯ï®ï³ï©ï³ï´ï€ ïï¡ï©ï®ï¬ï¹ï€ ï¯ï¦ï€ ï¤ï¥ï°ï¯ï³ï©ï´ï³ï€ ï·ï©ï´ï¨ï€ ï¢ï¡ï®Nï³ ï€ ï³ï¨ï¯ï²ï´ï€ï´ï¥ï²ïï€ ï©ï®ï¶ï¥ï³ï´ïï¥ï®ï´ï³ ï€ ï¡ï£ï£ï¯ïµï®ï´ï³ï€
ï²ï¥ï£ï¥ï©ï¶ï¡ï¢ï¬ï¥ï€ ï¡ï®ï¤ï€ ï°ï¡ï¹ï¡ï¢ï¬ï¥ï€¬ï€ ï¬ï¯ï¡ï®ï³ï€ ï´ï¯ï€ ï¡ï®ï¤ï€ ï¦ï²ï¯ïï€ ï³ïµï¢ï³ï©ï¤ï©ï¡ï²ï©ï¥ï³ï€¬ï€ ï¢ï¡ï®Nï€ ï¬ï¯ï¡ï®ï³ï€ ï¡ï®ï¤ï€ ï¨ï©ï²ï¥ ï°ïµï²ï£ï¨ï¡ï³ï¥ï€ ï¬ï©ï¡ï¢ï©ï¬ï©ï´ï©ï¥ï³ï€®ï€ 1ï¯ï€ ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï¡ï³ï³ï¥ï´ï³ï€ ï¡ï²ï¥ï€
ï°ï¬ï¥ï¤ï§ï¥ï¤ï€ ï¡ï³ï€ ï£ï¯ï¬ï¬ï¡ï´ï¥ï²ï¡ï¬ï€ ï¦ï¯ï²ï€ ï¬ï©ï¡ï¢ï©ï¬ï©ï´ï©ï¥ï³ï€®
ï”ï¨ï¥ï€ ï£ï¯ï®ï³ï¯ï¬ï©ï¤ï¡ï´ï¥ï¤ï€ ï¥ï®ï´ï©ï´ï¹ï€ ï¤ï¯ï¥ï³ï€ ï®ï¯ï´ï€ ï¨ï¡ï¶ï¥ï€ ï¡ï®ï¹ï€ ï¤ï¥ï²ï©ï¶ï¡ï´ï©ï¶ï¥ï€ ï©ï®ï³ï´ï²ïµïï¥ï®ï´ï³ï€ ï¡ï´ï€ ï€³ï€°ï€ ïŠïµï®ï¥ï€ ï€²ï€°ï€±ï€´ï€ ï€³ï€°ï€ ïŠïµï®ï¥ï€ ï€²ï€°ï€±ï€³ï€ºï€ 1ï©ï¬ï€©ï€®
ï”ï¨ï¥ï€ ïï¡ï©ï®ï€ ï²ï©ï³Nï³ï€ ï´ï¨ï¥ï€ ï£ï¯ï®ï³ï¯ï¬ï©ï¤ï¡ï´ï¥ï¤ï€ ï¥ï®ï´ï©ï´ï¹ï€ ï©ï³ï€ ï¥[ï°ï¯ï³ï¥ï¤ï€ ï´ï¨ï²ï¯ïµï§ï¨ï€ ï©ï´ï³ï€ ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï¡ï³ï³ï¥ï´ï³ï€ ï¡ï®ï¤ï€ ï¬ï©ï¡ï¢ï©ï¬ï©ï´ï©ï¥ï³ï€ ï¡ï²ï¥ï€ ïï¡ï²Nï¥ï´ï€ ï²ï©ï³Nï€¬ï€ ï£ï²ï¥ï¤ï©ï´ï€ ï²ï©ï³Nï€ ï¡ï®ï¤ï€
ï¬ï©ï±ïµï©ï¤ï©ï´ï¹ï€ ï²ï©ï³Nï€
ïƒïïŽï“ïïŒï‰ï„ïï”ï…ï„ï€ ï…ïŽï”ï‰ï”<
ï”ï¨ï¥ï€ ï£ï¡ï°ï©ï´ï¡ï¬ï€ ï³ï´ï²ïµï£ï´ïµï²ï¥ï€ ï¯ï¦ï€ ï´ï¨ï¥ï€ ï£ï¯ï®ï³ï¯ï¬ï©ï¤ï¡ï´ï¥ï¤ï€ ï¥ï®ï´ï©ï´ï¹ï€ ï£ï¯ï®ï³ï©ï³ï´ï³ï€ ï¯ï¦ï€ ï£ï¡ï³ï¨ï€ ï¡ï®ï¤ï€ ï£ï¡ï³ï¨ï€ ï¥ï±ïµï©ï¶ï¡ï¬ï¥ï®ï´ï³ï€¬ï€ ï¨ï©ï²ï¥ ï°ïµï²ï£ï¨ï¡ï³ï¥ï€ ï¬ï©ï¡ï¢ï©ï¬ï©ï´ï©ï¥ï³ï€¬ï€ ï¢ï¡ï®Nï€ ï¬ï¯ï¡ï®ï³ï€ ï¡ï®ï¤ï€
ï¥ï±ïµï©ï´ï¹ï€ ï£ï¯ïï°ï²ï©ï³ï©ï®ï§ï€ ï©ï³ï³ïµï¥ï¤ï€ ï£ï¡ï°ï©ï´ï¡ï¬ï€¬ï€ ï®ï¥ï´ï€ ï¯ï¦ï€ ï²ï¥ï³ï¥ï²ï¶ï¥ï³ï€ ï¡ï®ï¤ï€ ï¡ï£ï£ïµïïµï¬ï¡ï´ï¥ï¤ï€ ï¬ï¯ï³ï³ï¥ï³ï€ ï¡ï³ï€ ï¤ï©ï³ï£ï¬ï¯ï³ï¥ï¤ï€ ï©ï®ï€ ï®ï¯ï´ï¥ï³ï€ ï€¶ï€¬ï€ ï€±ï€´ï€ ï¡ï®ï¤ï€ ï€±ï€¶ï€ ï²ï¥ï³ï°ï¥ï£ï´ï©ï¶ï¥ï¬ï¹ï€®
ï„ï¥ï´ï¡ï©ï¬ï³ï€ ï¯ï¦ï€ ï³ï©ï§ï®ï©ï¦ï©ï£ï¡ï®ï´ï€ ï¡ï£ï£ï¯ïµï®ï´ï©ï®ï§ï€ ï°ï¯ï¬ï©ï£ï©ï¥ï³ï€ ï¡ï®ï¤ï€ ïï¥ï´ï¨ï¯ï¤ï³ï€ ï¡ï¤ï¯ï°ï´ï¥ï¤ï€¬ï€ ï©ï®ï£ï¬ïµï¤ï©ï®ï§ï€ ï´ï¨ï¥ï€ ï£ï²ï©ï´ï¥ï²ï©ï¡ï€ ï¦ï¯ï²ï€ ï²ï¥ï£ï¯ï§ï®ï©ï´ï©ï¯ï®ï€¬ï€ ï´ï¨ï¥ï€ ï¢ï¡ï³ï©ï³ï€ ï¦ï¯ï²ï€
ïï¥ï¡ï³ïµï²ï¥ïï¥ï®ï´ï€ ï¡ï®ï¤ï€ ï´ï¨ï¥ï€ ï¢ï¡ï³ï©ï³ï€ ï¯ï®ï€ ï·ï¨ï©ï£ï¨ï€ ï©ï®ï£ï¯ïï¥ï€ ï¡ï®ï¤ï€ ï¥[ï°ï¥ï®ï³ï¥ï³ï€ ï¡ï²ï¥ï€ ï²ï¥ï£ï¯ï§ï®ï©ï³ï¥ï¤ï€¬ï€ ï©ï®ï€ ï²ï¥ï³ï°ï¥ï£ï´ï€ ï¯ï¦ï€ ï¥ï¡ï£ï¨ï€ ï£ï¬ï¡ï³ï³ï€ ï¯ï¦ï€ ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï¡ï³ï³ï¥ï´ï€¬ï€
ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï¬ï©ï¡ï¢ï©ï¬ï©ï´ï¹ï€ ï¡ï®ï¤ï€ ï¥ï±ïµï©ï´ï¹ï€ ï©ï®ï³ï´ï²ïµïï¥ï®ï´ï€ ï¡ï²ï¥ï€ ï¤ï©ï³ï£ï¬ï¯ï³ï¥ï¤ï€ ï©ï®ï€ 1ï¯ï´ï¥ï€ ï€±ï€ ï´ï¯ï€ ï´ï¨ï¥ï€ ï¦ï©ï®ï¡ï®ï£ï©ï¡ï¬ï€ ï³ï´ï¡ï´ï¥ïï¥ï®ï´ï³ï€®

NOTES TOTHE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2014
78
ICON ENERGY LIMITED
2014 Annual Report ABN 61 058 454 569
