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Photo: Eagle Bulk Shipping

Eagle Bulk reduced its losses in Q2

Bulk:

US-based dry bulk carrier Eagle Bulk reduced its deficit in the second quarter of the year with a net loss of USD 5.9 million. Revenue more than doubled, shows interim report.


BY KATRINE GRØNVALD RAUN
Published 08.08.17 at 09:44

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CEO has leaned down J. Lauritzen for tough years

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CEO Mads P. Zacho has reduced expenses at J. Lauritzen in order to prepare the carrier for a protracted downturn on the dry bulk market. There is no need for more major cost cutting, he tells ShippingWatch.

Pacific Basin looking at new asset acquisition opportunities

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Among the dry bulk carriers, Pacific Basin is one of the few players so confident in the market that it has performed a significant fleet expansion. And more could be underway. ShippingWatch has interviewed CEO Mats Berglund about where the optimism comes from.

Jan Rindbo: Dry bulk rates must rise to ensure profit

Bulk:

They have seen the highest dry bulk rates in four years but it is still not enough, Norden CEO Jan Rindbo tells ShippingWatch. The carrier's bright spot came in the form of the struggling tanker segment.

Thorco owner withdraws guarantees for vessels in Thorco

Bulk:

Thor and Christian Stadil have for years supported the severely loss-inducing vessels of carrier Thorco. But the family will no longer do so, reveals Thor Stadil to ShippingWatch.

J. Lauritzen still strained despite improvements

Bulk:

J. Lauritzen was able to reduce its deficit in the second quarter 2017. But an actual comeback in strained dry bulk rates still seems far off, says CEO Mads P. Zacho.

Norden lost USD 7 million on dry bulk in the second quarter

Bulk:

Norden finished the second quarter with a deficit in dry bulk, while the tanker business delivered a profit of USD 3 million. The carrier maintains its full-year guidance.

Current front page

CEO has leaned down J. Lauritzen for tough years

Mads Zacho 4.jpg Bulk:

CEO Mads P. Zacho has reduced expenses at J. Lauritzen in order to prepare the carrier for a protracted downturn on the dry bulk market. There is no need for more major cost cutting, he tells ShippingWatch.

Hafnia Tankers books deficit for Q2

Tanker:

Hafnia Tankers' bottom line went negative in the second quarter, as the market remains characterized by an oversupply of vessels and full oil deposits.

DFDS Executive VP: I've sometimes listened a bit too much

Carriers:

Is it possible to listen too much when collaborating? Yes, at times, says Executive VP Peder Gellert Pedersen of DFDS. For instance in the executive group. "I've been too attentive rather than forcing decisions through," he says in ShippingWatch's series on leadership.

Pacific Basin looking at new asset acquisition opportunities

Bulk:

Among the dry bulk carriers, Pacific Basin is one of the few players so confident in the market that it has performed a significant fleet expansion. And more could be underway. ShippingWatch has interviewed CEO Mats Berglund about where the optimism comes from.

Gothenburg port conflict could lead to bankruptcies

Ports:

The year-long conflict in the port of Gothenburg involving APM Terminals has proved expensive for Swedish industry. Swedish chamber of commerce projects that the conflict could trigger bankruptcies, according to newspaper Dagens Nyheter.

South Korean shipbuilders beat China in orders

Suppliers:

Shipyards in South Korea have surpassed China again in terms of receiving the most orders for new ships and platforms. The major South Korean yards have been in the doldrums in recent years, but 2017 has been positive so far.

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