Ultrabulk grows fleet with five newbuildings

Ultrabulk Shipping, which at one time operated 140 ships, finished 2013 with an operating profit of USD 21.9 million.

Danish Ultrabulk Shipping achieved an operating profit (EBITDA) of USD 21.9 million in 2013, compared to USD 19.7 million in 2012. The result stems from a significantly increasing revenue - at 28 percent, due to a higher number of ships in the carrier's dry bulk fleet - from USD 692 million in 2012 to USD 885 million last year.

Since Ultrabulk published its annual report 2013, the company has ordered five additional newbuildings, and canceled a single newbuilding, as the shipyard concerned was not able to provide the necessary guarantees. The new ships will be built at a Japanese shipyard. The order includes two Handysize and an option for a third, at 38,000 dwt, to be delivered in 2015, one 61,000 dwt Supramax to be delivered in 2015, and one 82,000 dwt, scheduled for delivery in 2016.

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