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Concordia Maritime boosts product tanker result

The seasonal downturn for product tanker in the second quarter did not emerge, and the market remained strong for the Stena Group's tanker carrier Concordia Maritime. Robust market ahead, says CEO Kim Ullman.

The product tanker boom continued into the second quarter and benefited tanker carrier Concordia Maritime, owned by major Swedish shipping group Stena. The carrier made a second quarter profit of USD 6.6 million, up from USD 6.07 million in the same period last year, according to the interim report.

The carrier achieved average spot market earnings of USD 21,800 per day, compared to USD 10,700 per day in the second quarter 2014. And as such, it is a satisfied CEO Kim Ullman who states in the report that the carrier delivered a solid result.

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