When Erik Lewenhaupt assumed the role of CEO of Concordia Maritime in January, the Swedish product tanker shipping company had gone through a terrible year with a major deficit on its bottom line after carrying out an extensive rescue plan.
The pre-tax deficit came to SEK 658.2m (USD 63.2m) in 2021, which the then-newly appointed CEO in his first fiscal comment deemed ”one of tanker shipping’s most challenging years ever.”
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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.