The tanker market has worsened throughout 2018 and is currently at unexpectedly low levels.
The adjusted result for the Tanker division is minus $8 mill for the second quarter of this year.
Therefore, the expected full-year result for NORDEN’s tanker business has been revised down to a range of $-35 to $-20 mill (previously $-15 to $5 mill).
This new estimate is based on a continued very poor market in the third quarter, followed by moderate seasonal improvements in the fourth quarter.
NORDEN will publish its interim report for 2Q18 on 15th August, 2018.