Weak tanker market results in major loss for Diamond S

Tanker company Diamond S Shipping saw a weak tanker market affect its result in the first quarter, which ended in a large loss. The carrier expects to finally merge with International Seaways later this year.

Photo: PR / Diamond S Shipping

Diamond S Shipping, which partners on a tanker pool with Norden, and recently announced plans for a merger with International Seaways, is the latest tanker company in a row to report a loss-making first quarter.

The tanker company reports a loss of USD 33.6 million for the period, which is a marked decrease from a profit of USD 46 million in the same period last year.

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