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Struggling Gulf Navigation gets financial breather

Gulf Navigation increased its earnings significantly in the first nine months of the year. The big question is whether its creditors, including Norway's DNB, are taking reassurance from this.

Dubai-based chemical tanker carrier Gulf Navigation, which is facing serious financial difficulties, grew its earnings 123 percent in the first nine months of 2015 compared to the same period last year.

The interim report is published at a time when the carrier is in the midst of a financial turnaround process and in negotiations with its creditors, notes the company's management team in the interim report. The creditors include Norwegian DNB.

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