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Drop in tanker demand

Drop in tanker demand
J Lauritzen, the family-controlled Danish shipowner, has been hit by low bulk rates in the first quarter of the year and by the drop in demand for its tanker fleet in the second.

J Lauritzen, the family-controlled Danish shipowner, has been hit by low bulk rates in the first quarter of the year and by the drop in demand for its tanker fleet in the second.

J Lauritzen, the family-controlled Danish shipowner, has been hit by low bulk rates in the first quarter of the year and by the drop in demand for its tanker fleet in the second.

Net earnings for the first half of this year for the Copenhagen-based group were $1.5m, compared to $322.4m for the same period a year earlier.

Net result for the first half-year of 2009 was USD 1.5m compared to USD 322.4m in the same period of 2008 and USD 149.5m for the full year 2008.

The half-year result was negatively impacted by the global financial crisis and the world economic recession with the bulk market particularly affected during the first quarter and the product tanker market during the second quarter.

www.TurkishMaritime.com.tr

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