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Torm cuts its full-year 2016 forecast in half

Torm delivered a second quarter profit of USD 15.2 million before taxes, a significant setback from the same period last year, and the carrier downgrades its-full year guidance substantially.

Tanker carrier Torm now downgrades its full-year 2016 forecast significantly, according to the company's second quarter interim report.

Where the carrier previously projected a full-year operating profit (EBITDA) of USD 250-330 million, and a pre-tax result of USD 100-180 million, Torm is now guiding with "a positive EBITDA in the range of USD 210-250 million and a profit before tax in the range USD 50-90 million."

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