Western Bulk reports large deficit after "streak of unfortunate events"

Dry bulk ship operator Western Bulk finished the first half of the year with a deficit of almost USD 25 million. The company attributes the loss to the major dip in rates early in the year and continuing challenges in Chile, where a trusted employee has cost the company a large sum.

by SIMON VALEUR

The "dramatic drop" in the dry bulk rates in the start of the year took a big toll on Norway's Western Bulk, which in its half-year report books a deficit after taxes of USD 25 million.

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