TheRiga based tanker owner today reports a nominal first quarter profit of $77,000which was its first surplus since 2008.
Butthe profit was after an impairment charge of $1.7 arising from a decrease inthe value of the fleet.
Andit compares to a first quarter loss of $17.77m in 2012.
SimonBlaydes, the British accountant who has been chairman of the management board ofLatvian Shipping since the middle of 2011, said he was cautiously optimisticabout prospects for the products tanker market with charter rates alreadyincreasing.
“Theclosing
