Torm continues to profit from the product tanker upswing, landing a pre-tax result of USD 107m in the second quarter.
This result is ten times larger than the USD 10.4m the product tanker shipping company earned in the first quarter, and 50 times larger than in the same quarter last year, which saw the result come to USD 2.4m.
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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.