10/28/2005
Arlington Tankers' profit-sharing deal fails to excite
Arlington Tankers earned little additional profit under its sharing agreements in the third quarter of the year. At the moment, its vessels are trading on five-year timecharter contracts to subsidiaries of Stena AB and Concordia Maritime AB, which will continue until 2009. Fuel costs and seasonally lower freight rates made the third-quarter profit lower than that of the first and second quarters. For the fourth quarter, fuel costs are expected to stay high but rates have shown signs of improvement.
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Resuméer från Observer Sverige AB, Lloyd's List, 2005-10-28