Chemoil reports solid results


Singapore: Mainboard-listed Chemoil managed a net profit of $7.7m in the third quarter, up from $2.5m in the same period of 2011. Revenues were up 26% to $3.4bn with 5.2m tons of bunkers sold. 

Chemoil’s CEO, Tom Reilly stated, “Our third quarter results remained steady in a difficult environment for the shipping industry. As we maintain positive profit contributions from our core marine fuel business, we will continue to create opportunities for profit contribution from our new businesses such as aviation, diesel and renewables.”  [13/11/12]

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