The Stena spin-off banked SEK 12.2m ($1.87m) in the opening three months of 2014, up 28% on the same stage a year ago.
Ullman said: “After my first three months as CEO of Concordia Maritime it’s nice to be able to report a profitable first quarter.”
Concordia’s open vessels earned $16,000 daily in the quarter, up from $13,000 daily in 2013.
He added: “The year started relatively strongly with high freight rates on several routes in the product tanker market.
“This
