ShippingWatch

Lauritzen Bulkers expects profit in 2021

Strained dry bulk shipping company Lauritzen Bulkers now expects to book a profit in 2021. This would be the first one since 2010. Despite increased activity, the company expects to book red figures for this year, CEO Niels Josefsen tells ShippingWatch.

Photo: J. Lauritzen

It will not be during Lauritzen Bulkers' first year as an independent company that the company finally books black figures on the bottom line. But the company's management now says that the strained dry bulk company could become profitable from next year – 2021. If true, it would be the company's first profit in 11 years.

"Although the market looked weak in March, we've been able to earn good money and we expect the result for 2020 to be much better than in 2019. But it will not be with black figures on the bottom line. That's because this year's report will still be negatively impacted by the portfolio of vessels on long-term contracts that are in the process of being discontinued," says Niels Josefsen, CEO of Lauritzen Bulkers, in an interview with ShippingWatch.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Hapag-Lloyd upgrades its full-year forecast

Hapag-Lloyd upgrades its full-year forecast for 2021, as the container carrier's operating result increased by close to USD 3 billion in the first half of the year, according to preliminary figures released Friday.

Port congestion and sky-rocketing freight rates hit Barbie

The explosion in freight rates and historic shortage of capacity have a notable impact on global toy companies Mattel and Hasbro, the manufacturers of Barbie and Peppa Pig. Price increases and new production set-ups are among the responses.

Further reading

Related articles

Trial banner

Latest news

See all jobs