2018 would mostly be a lost year for tanker shipping, predicted one tanker CEO at the beginning of the year, and now that the year is over, most stakeholders would likely agree. At Swedish product tanker shipping company Concordia Maritime, Chief Executive Kim Ullman is ready to leave the year behind.
The fourth quarter may have been even better than expected, with rate levels surpassing even the most optimistic forecasts. But it was not enough to pull the carrier's full-year results into black. The result after taxes came to a deficit of SEK 182.1 million (USD 20.0 million), while revenue grew to SEK 1 billion.
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