LOF Turnaround due to the Suez Canal


In 1967 London and Overseas Freighters Ltd. were heading for a sixth yearly loss in a row when the Suez Canal shut for the second time, the closure gave London and Overseas Freighters Ltd. a brief respite with tankers being in short supply, the Company turned round an anticipated £1 million loss into a £1.2 million profit year end March 1968