Navig8 Chemical Tankers has posted a lower profit in the third quarter as costs rose due to vessel deliveries.
The company said net earnings were $3.7m, down from $9.6m a year ago.
It blamed lower rates, partially offset by an increase in total operating days, while depreciation and interest expenses rose because of fleet expansion.
Revenue grew to $35.8m from $28.66m however.
”The chemical tanker sector remained soft in the third quarter as refinery maintenance season continued,” said CEO Nicolas Busch.
“The
