ShippingWatch

Five dry bulk operators have lost USD 600 million in six months

Half-year reports from the first five pace-setting dry bulk shipping companies show a combined deficit of USD 600 million, thus reflecting a depressed market in the spring. Now a significant turnaround is needed to ensure the sector even a decent 2020.

Photo: PR / Eagle Bulk

Looking at the half-year results published by the first five pace-setting dry bulk shipping companies, it becomes clear that it was exceedingly difficult to offset the consequences of the coronavirus outbreak and the lockdowns of ports and terminals it triggered.

Viewing the results as an indicator for the industry overall, results for the first six months of 2020 look set to pull capital out of the sector and will set large requirements for the companies' abilities in the second half of the year, which is now a month and half old.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

"Mixed lobbying" hinders Maersk from elite status on climate efforts

Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.

Danske Bank makes commitment to CO2 neutral loan portfolio by 2050

By 2050 at the latest, Danske Bank's loan portfolio must be fully CO2 neutral. The bank, which provides loans to shipping as well as the oil and gas sector and also supports the Poseidon Principles, isn't ready yet to set out short-term intermediate targets on the road towards CO2 neutrality.

Further reading

Related articles

Trial banner

Latest news

See all jobs