Torm Cuts Outlook on Weak Tanker Freight Rates

Friday, November 05, 2010

According to a Nov. 4 report from Reuters, Danish shipper D/S Torm (TORM.CO) lowered its guidance for 2010, saying it expected continued weak freight rates in the fourth quarter. The company’s previous guidance was for a 2010 pretax outlook of a $40-60m loss, but now gives an outlook for a $75-85m loss.

(Source: Reuters)

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

As First Victims Mourned, Italian Navy Searches On

Italy held a funeral service on Tuesday for 13 migrants who died in the worst shipwreck in the Mediterranean in recent history, while the navy continued its search for other victims of the disaster.

Migrant Sailboat Sinks in Aegean, 17 Missing

A sailboat carrying migrants sank in in the Aegean sea between Turkey and Greece on Tuesday and at least 17 people were missing, Greek authorities said. Greece's

Japan's MHI Bags Indian Oil's LNG Storage Tank Contract

Indian Oil Corp (IOC) has awarded a contract to build two football stadium-sized liquefied natural gas (LNG) storage tanks at its upcoming Ennore LNG import terminal

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Salvage Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1077 sec (9 req/sec)