It came to small gains for the Danish dry bulk player XO Shipping in 2014 which was a year, described by industry stakeholders as one of the worst ever. Nonetheless, XO Shipping was successful in bringing the result up to about USD 2.9 million, which is an increase compared to the previous year, where the result landed at USD 2.5 million.
Revenue grew from about USD 50 million in 2013 to USD 96.1 million last year, as shown in the recently released annual report, where it is not noted whether or not the result is pleasing.
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In the drama surrounding the merger between tanker majors Euronav and Frontline, one of the arguments from Euronav’s biggest shareholder, the Saverys family, is that the merger will pull Euronav in the wrong direction on the green agenda. Euronav tells ShippingWatch that the company rejects this criticism.