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Ultrabulk lowers 2014 forecast significantly

Ultrabulk suffered a deficit of USD 1.1 million in the first half of the year. The carrier, which has seen a solid growth in revenue, is now lowering its full-year expectations significantly.

Dry bulk carrier Ultrabulk suffered a USD 1.1 million deficit in the first six months of the year, compared to a USD 10.4 million profit in the same period last year. And the Chilean owned carrier, based in Copenhagen, is now lowering its full-year expectations from an expected operating profit (EBITDA) earlier this year of USD 19-24 million, to now USD 4-9 million, according to the carrier's 2nd quarter interim report.

Ultrabulk grows fleet with five newbuildings

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