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Knightsbridge Tankers' Profit Drops

Maritime Activity Reports, Inc.

May 12, 2011

According to a report from Reuters, Knightsbridge Tankers Ltd reported a 16% drop in quarterly profit as ship-oversupply hurt sales. Capesizes barely covered their running costs during the first quarter. Demand was hit by the flooding in Australia and the tsunami in Japan.

 
(Source: Reuters)