Torm downgrades full-year forecast for 2016

Tanker carrier Torm achieved a small profit in a challenging tanker market in the third quarter, and the carrier is now downgrading its expectations for the full year 2016.

by LOUISE VOGDRUP-SCHMIDT

The challenging tanker market characterized by sliding product tanker rates took a toll on Torm's third quarter results. The result before taxes came to USD 2 million in the period, a setback from USD 72 million in the same period last year.

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