Chembulk Tankers has posted another loss in the third quarter after product carrier competition hit rates.
The Oslo-listed chemical tanker owner, backed by private equity giant KKR, said earnings eased in the period, driven by a seasonally slower period and increased numbers of clean tankers moving into the chemical trades.
Connecticut-based Chembulk added that Covid-19 impacts continue to add levels of uncertainty to the global economic outlook and vessel demand, in tandem with the potential for even more competition from product tankers.
