Concordia Maritime has seen its second quarter bottom line fall in the face of a weaker market.
Kim Ullman-led Concordia booked a profit of SEK 12.4m ($1.44m) in the three months to the end of June, down from SEK 44m at the same stage a year ago.
Ullman describes the company as enjoying “good income despite a declining market”.
He explains that the cost of a settlement relating to the grounding of the 65,125-dwt Stena Primorsk (built 2006) was largely offset by a currency hedges and other non-recurring income.
