ShippingWatch

Nordic American Tankers books million-dollar profit on tanker recovery

Nordic American Tankers turned a double-digit million-dollar deficit into a double-digit million-dollar profit. The shipping line still believes in a strong 2020 for tanker, even though rates have gone down in recent weeks, due to factors like the Coronavirus.

Photo: Nordic American Tankers / PR

The recovery in the tanker market improved Nordic American Tankers' bottom line by USD 23.2 million in the fourth quarter last year.

The tanker shipping company, based in Bermuda and listed in New York, reports a net profit of USD 12.7 million for the last three months of 2019. In the same period last year, the company suffered a deficit of USD 10.5 million.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Poseidon Principles set to raise ambitions in coming weeks

The banks in Poseidon Principles are working on the basis of halving CO2 emissions in shipping by 2050. At the same time, some of the same banks are working towards a target of CO2 neutrality by 2050 as part of the Net-Zero Banking Alliance. Before long, Poseidon will reassess its ambition.

Further reading

Related articles

Trial banner

Latest news

See all jobs