Kim Ullman, who took the helm at the Swedish product tanker owner at the turn of the year, blamed a worse than expected seasonal downturn in the final quarter for the company falling to a loss.
Concordia booked a deficit of SEK 30.8m ($4.7m) for the three months to 31 December versus a profit of SEK 9.7m a year earlier.
It was the only quarter in 2013 where the company did not improve on the previous year’s result.
Total
