The first quarter of this year saw the Group performed poorly as the Time Charter Equivalent (“TCE”) rates were largely depressed due to low tonnage demand caused by the COVID-19 pandemic coupled with excessive tonnage in the market. As a result, the average daily TCE rate earned in Q1 2021 by the five vessels was …
The post Nordic Shipholding: Excessive Tonnage Hurts First Quarter Earnings first appeared on Hellenic Shipping News Worldwide.