Global marine fuels supplier Chemoil posted second-quarter net profit of $1m, down from a net profit of $3.2m in the same quarter of last year, Seatrade Asia reports.
Revenue for the quarter, however, rose to $2.6bn compared to $1.9bn in the corresponding quarter of 2010.
“Chemoil's new businesses contributed strongly to the second-quarter performance as OceanConnect Marine accounted for the volume growth for the quarter as well as for a good portion of the group's profitability,” said Mats Berglund, COO and CFO at Chemoil.
Revenue for the quarter, however, rose to $2.6bn compared to $1.9bn in the corresponding quarter of 2010.
“Chemoil's new businesses contributed strongly to the second-quarter performance as OceanConnect Marine accounted for the volume growth for the quarter as well as for a good portion of the group's profitability,” said Mats Berglund, COO and CFO at Chemoil.