Fourth quarter boosts Concordia's 2016 result

Swedish tanker carrier Concordia Maritime saw its profits decline by SEK 117.5 million in the full-year 2016. However, the end of the year provided major consolation for the overall bottom line. Rates were "considerably lower" than in the previous year.

by SØREN PICO

Stena-controlled tanker carrier Concordia Maritime had an overall rough 2016 with weak rates for product tanker, and this is reflected in the company's 2016 annual report, which has just been released.

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Concordia hit with deficit by weak tanker market
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Tanker CEOs look with pessimism at 2017
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Concordia Maritime's earnings join the downward trend
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