Marine fuel supplier Chemoil Ltd expects to post a net loss in the third quarter, hurt by weak fuel oil margins.
It said late on Friday that the business operations of the company have been negatively affected by unusually weak fuel oil margins in many of its market segments worldwide, while its oil hedging was less effective than previous quarters.
Chemoil said in June its majority shareholders are in talks with various parties for the possible sale of part or all of the company. [ID:nSIN491784]. The company will report earnings for the July-September quarter next month.
(Reporting by Saeed Azhar; Editing by Jerry Norton)