Norden has lowered its profit expectations for 2019 after discovering a mistake in its bookkeeping.
The Danish owner and operator of bulkers and tankers revised its forecast to $10m to $45m, down from $25m to $60m upon seeing the calculation error while updating estimates for its upcoming third-quarter earnings report.
The miscalculation was related to adjustments to the tanker sector's profit but will not impact actual results coming out 6 November, Norden said.
