D'Amico shipping group posts 9-mth loss

Tanker market weak but picking up - Fiori

(ANSA) - Genoa, November 9 - The d'Amico International shipping group on Thursday posted a net nine-month loss of 13.6 million dollars, compared to net profit of 6.1 million euros registered in the same period in 2016.
    The world leader in maritime transport said the result was largely due to the greater weakness of the tanker market, above all in the first half of this year.
    In any case the loss fell in the third quarter over the second, from 8 to 7.4 million dollars.
    "Despite the fact that we have not yet seen a recovery in the tanker market, so much expected by most sector analysts," said Amico International shipping CEO Marco Fiori, "we have, however, noted some signs of improvement in the course of the third quarter of the year, in which the company achieved an average spot daily earning 18% higher than the level obtained in the same period in 2016.
    "We expect a much more solid market in the next few months".