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


Rolls-Royce to Cut More Staff of Marine Unit

Britain's Rolls-Royce said it would cut an additional 400 staff from its marine business by the end of next year, its latest move to make the unit more efficient

Wärtsilä Debuts Package for hydropower & industrial plant

Wärtsilä Corporation, a global leader in complete lifecycle power solutions for the marine and energy markets, expands into a new market segment, offering a comprehensive package of seals,

Smith Taken on Rolls-Royce Holdings Board

Rolls-Royce Holdings plc today announces the appointment of Sir Kevin Smith CBE as a Non-Executive Director.  Sir Kevin will join the Board with effect from

Maritime Contracts Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
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: 0.1081 sec (9 req/sec)