Dry bulk carrier Western Bulk achieved a net profit of USD 15.8 million in the 2nd quarter 2014. A vast majority of this result stems from a one-off income of USD 12.7 million from the sale of a claim in Korean Pan Ocean, which - like it did with J. Lauritzen - also canceled contracts with Western Bulk ahead of time.
WB Chartering improved its net result, from USD 4.4 million in the 1st quarter this year to USD 5.7 million in the second quarter, while the WB Shipholding division - not including the Pan Ocean one-off item - suffered a USD 1.4 million deficit, compared to a deficit of USD 2.0 million in the previous quarter.
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