ShippingWatch

A part ofWatch Medier

Western Bulk reports smaller deficit for first half of 2020

Western Bulk finished the first half of the year with a smaller deficit than last year, but the Norwegian dry bulk operator was still hit hard by the coronavirus pandemic in the second quarter. The company is cautiously optimistic about the rest of 2020.

Photo: PR/Western Bulk
BY
Published:

Norwegian Western Bulk now joins the list of dry bulk operators describing the second quarter as the weakest market in years, though the company was able to reduce its deficit in the first six months of the year.

The company thus reports a deficit of USD 2.8 million after taxes for the first half of 2020, a significant improvement from a loss of USD 24.8 million in the same period 2019. The company's revenue dropped to USD 423.2 million from USD 516.8 million in the first half of 2019, shows the interim report Friday.

Read this article for free

Register with your E-mail.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

Related articles

Latest news

  1. Seaspan brings in USD 200 million from sustainbility-linked bonds
  2. A new motorized bow turns tugboats into icebreakers
  3. Black Lives Matter stirred up a dilemma for the president of Hapag-Lloyd America
  4. Kristian Siem loses ownership control of Siem Offshore
  5. DB Schenker resumes freight to UK – DHL suspends some freight in the other direction
  6. MSC fired warning shot to ward off presumed pirate attack
  7. Borr Drilling raises millions after securing approval for rescue plan
  8. V.Group replaces CEO of ship management unit
  9. New NGO to enforce standards created by Rightship and Intercargo
  10. Prosafe reaches deal with oil company after canceled contract
  11. Maersk exec: "We have seafarers that are afraid of pirates – that shouldn't be the case in 2021"
  12. Maersk ship is latest example of remarkable container losses in the Pacific
  13. Maersk is looking into the possibility of vaccinating its employees
  14. Alba Tankers has bought new ships and made USD 16 million in five years
  15. Major bulk ships now earn more than five times more than supertankers
  16. This is Bourbon Offshore's strategy on how to emerge from the crisis
  17. Politicians want dockworkers in LA and Long Beach moved up in vaccination queue
  18. US blacklists oil traders and tankers for violating sanctions on Venezuela
  19. Maersk ship loses 750 containers in the Pacific
  20. Joe Biden signs decree returning the US to the Paris agreement

See all

Jobs

See all

See all