Concordia Maritime benefited from the solid tanker rates and the low oil price which had a practically reverse proportional effect on the financial report. Thus the tanker carrier not only noted a profit of USD 20.4 million, which is a significant advancement from last year's USD 1 million, but also the revenue increased and came to approximately USD 95 million, compared to about USD 62.3 million in the previous year.
This is evident from the Concordia Maritime annual report which was released Thursday.
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