Nordic Tankers: No profit before 2014

The first annual report from Nordic Tankers AB, the parent company of shipping companies Herning Shipping and Nordic Tankers, will present a deficit, and it'll be just as difficult to generate a profit in 2014, says CEO Tommy Thomsen.

Triton's acquisition of Nordic Tankers in April last year and the establishing of a shipping company with a total of 120 tank ships at its disposal is a long term investment with no requirements for fast returns. And if you ask the Nordic Tankers management, the solid European private equity fund will have to arm itself with patience, as the first annual report from Nordic Tankers AB (the parent company of Herning Shipping and Nordic Tankers AB) will show a deficit, and 2013 will probably also result in a deficit.

"Tanker shipping is a losing business in the current market, no matter where you look," says CEO Tommy Thomsen frankly when asked about the current state of the shipping company - and the industry in general.

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