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Lauritzen hit by market
Originally published:  23/02/2012
J Lauritzen A/S has reported a loss of $46.2m for 2011, down from the $130.7m profit recorded in 2010. "The result was lower than expected and unsatisfactory," the Copnhagen-based shipowner says, reflecting not only "difficult" shipping markets but also the effect of defaults. Its LPG tanker operation, Lauritzen Kosan, reported EBITDA of $33.2m, an improvement on the $30.7m booked in 2010, largely due to market improvements.