The Oslo-listed tanker owner reported ebitda of $4.8m versus the $15.4m seen a year ago as freight rates remained weak. Analysts had anticipated a profit of $9m.
Eitzen said the weaker market and disappointing development experienced in the first quarter continued in the second quarter.
The Jens Gronning-led shipowner reported an average time charter equivalent rate (TCE) for its fleet of $10,284 per day.
This
