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.

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