Tanker Investments Ltd (TIL) has posted a loss of $2.9m as the company was impacted by the lowest third quarter tanker rates in three years.
The suezmax and aframax specialist saw revenue come in at $26.6m, a 48.4% decline on the $51.6m achieved a year ago.
TIL’s suezmaxes earned a time-charter equivalent (TCE) spot rate during the quarter of $18,550 per day against the $33,880 seen a year ago.
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