Union Bulk reports major profit in second year

An unusually strong dry bulk market sends profits soaring for Danish operator Union Bulk. 2021 looks set to be "very reasonable", although China prompts uncertainty, partner and founder tells ShippingWatch.

Union Bulk's team. From the left: partners Thomas Nielsen, Jens Boesen and Anders Svarrer. | Photo: Union Bulk

Dry bulk operator Union Bulk books a major profit in only its second whole fiscal year, with especially the second half and its historically strong bulk market playing a part.

The Danish carrier, which operates a fleet of around 20 vessels, reports a net profit of USD 12.51 million for the most recent fiscal year, which concluded at the end of June this year.

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