Q2 16 was a difficult quarter due to a poor dry cargo market despite some improvement in the Chinese imports of coal and iron ore and a weaker tanker market than expected. Q2 16 results. - Group revenue decreased to $312m (-26%) due to both divisions (-22% in dry cargo and -37% in tankers). Norden continued to be affected by weak rates in the dry cargo market and had to deal with lower rates in all vessel segments in the tanker market. - EBITDA collapsed to $12m (-76%), reflecting the negativ
17 Aug 2016
Deterioration in the tanker market
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Deterioration in the tanker market
D/S Norden A/S (DNORD:CSE) | 0 0 2.3% | Mkt Cap: 4,970m
- Published:
17 Aug 2016 -
Author:
Hélène Coumes -
Pages:
3
Q2 16 was a difficult quarter due to a poor dry cargo market despite some improvement in the Chinese imports of coal and iron ore and a weaker tanker market than expected. Q2 16 results. - Group revenue decreased to $312m (-26%) due to both divisions (-22% in dry cargo and -37% in tankers). Norden continued to be affected by weak rates in the dry cargo market and had to deal with lower rates in all vessel segments in the tanker market. - EBITDA collapsed to $12m (-76%), reflecting the negativ