The Danish tanker owner posted a loss of $1.16m versus a $1.34m deficit in the corresponding period.

Revenue was $6.1m, $0.7m less than a year ago, while vessel-related expenses grew from $3.9m to $4.2m.

Nordic said handy tanker spot market rates were lower than anticipated.

But it expects a recovery during the following months as rates improved during October and November.

It guides that its handymaxes will be able to earn $14,000 per day and its LR1 $15,200 daily.

Nordic