XO Shipping delivers $4 mil. surplus in first annual report

The company XO Shipping in Hellerup, Denmark, is less than two years old and includes among its employees several former Atlas people. XO Shipping expects the first annual report to show a $4 million surplus, the company informs ShippingWatch.

XO Shipping has gotten off to a great start as an operator in the volatile bulk market. The company’s seven employees, of whom several have previously worked for the now defunct Atlas, will be able to deliver an annual report for 2012 showing a surplus of 4 million USD. Thus, the partner group is very pleased with the result at a time when the dry bulk industry is fighting hard to secure success stories.

“The result will be very good, and several good things will shine through. We have entered into several agreements with customers, and as we become more established, it will naturally become easier for us to do our work. As a new company, it is always difficult to break into the market. You start from the bottom each time, so your experience is crucial”, says one of the company’s founders and partners, Christian Levin, to ShippingWatch. Levin adds:

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