Concordia Maritime has braced itself for another weak year but is counting on tanker markets improving from 2012.
The Swedish owner still expects to post a profit in 2011 and unveiled a significantly improved full-year result despite a sales drop as expenses were chopped.
A results statement from the company read on Tuesday: “2011 will probably be yet another weak year, while the prospects for a market in balance are good in 2012 and particularly in 2013.”
Concordia