Jan Kastrup-Nielsen-led Lauritzen is now predicting a profit of between $5m and $20m during 2014, down from the $15m to $40m range previously circulated.

Its operating expectations have also been scaled back, with its earlier EBITDA forecast of $80m to $100m dialled down to between $65m and $80m.

“After a somewhat disappointing first half of 2014 in terms of global economic growth and world trade an improvement is expected in the second half of the year,” Lauritzen said.