Torm CEO looks forward to "double effect" in product tanker

As its competitors, Danish product tanker carrier Torm exits the third quarter in the red. Freight rates came to a historic low point during the quarter, reports CEO Jacob Meldgaard, who is nevertheless hopeful about the future. The same goes for Ardmore following a quarterly loss.

Photo: Marine Traffic / Rasmus Hoffmann

Torm exits the third quarter in the red amidst a historic low point in the product tanker market.

The Danish product tanker carrier books a loss of USD 14.1 million in the third quarter, according to its quarterly report released Wednesday morning. The loss marks a significant decline since the same period last year, which saw a profit of USD 1 million.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

Growth prompts OSM to send 150 managers on a leadership course

An equal approach to management and a desire to be more aligned are some of the reasons why OSM is sending both top and mid-level managers on a custom-made leadership course. ShippingWatch has spoken to OSM’s new chief culture officer about the initiative.

MSC, Lufthansa mull acquiring Italian state aviation firm

The world’s largest container line, MSC, and German aviation company Lufthansa have offered to take over Italian state airline ITA, the former Alitalia. MSC and Lufthansa have requested a 90-day exclusivity period to closely examine ITA.

Further reading

Related articles

Latest news

See all jobs