The Bergen-based outfit is controlled by 65-year-old former seafarer Tore Haagensen, who takes a pessimistic view on the markets. “The market does not allow us to have more ships,” he said.
Holding company Laxevaag Tankers, however, continues to deliver solid results and logged a pre-tax profit of $4.6m last year, albeit down from $7m in 2015.Profits are kept mostly within the company, which has no debt.
“We
