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Concordia Maritime follows suit in tanker surge

The Stena Group's tanker carrier Concordia Maritime surpassed its own expectations in the third quarter with a profit after taxes of USD 6.0 million, thus falling well in line with the current trend in tanker carrier results.

Photo: Stena

Concordia Maritime delivered a third quarter profit after taxes of USD 6.0 million, a significant improvement from a deficit of USD 3.1 million in the same period last year. Revenue came to USD 24.1 million, which is twice as much as last year, according to the interim report.

"The strong tanker market continued into the early part of the third quarter, but fell back slightly in August and September. After several strong quarters, we are now seeing a certain seasonal slowdown," says Kim Ullman, CEO of Concordia Maritime, the tanker unit of major Swedish shipping group Stena AB.

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