Nordic profits plunge
Created: Feb 15, 2007 10:00 AM
LONDON (Bloomberg) — Bermuda-incorporated Nordic American Tanker Shipping Ltd., which operates carriers able to haul one million-barrel consignments of oil, said fourth quarter profit fell 45 percent as ship-hire rates declined.Net income fell to $13.7 million, or 52 cents a share, from $25.1 million, or $1.51, a year earlier, Nordic American said yesterday in a statement distributed by the Hugin news service.
