Repair and redelivery costs hit Gulf Navigation Holding in the third quarter as its nine-month net profit dropped.
The Per Wistoft-led tanker owner remains, however, in the market for new tonnage but is sitting on its hands until prices fall.
Dubai-listed Gulf Nav handed back Nordic American Tanker Shipping’s 151,500-dwt Gulf Scandic (built 1997) in the third quarter as a seven-year bareboat charter came to an end.
However,
