Dry bulk fails Golden Ocean's expectations

Golden Ocean was disappointed by the second quarter of the year, and the company only achieved a small profit. The carrier warns of a deficit in the 3rd quarter, according to the interim report.

Photo: Golden Ocean

The dry bulk market continues to be a tough partner for the carriers operating in the segment, and major Norwegian dry bulk carrier Golden Ocean was forced to note a decline in the second quarter 2014, with a slight profit of USD 1 million, compared to USD 43.5 million in the same quarter last year, according to the interim report.

The result decreased by USD 9.1 million compared to the first quarter this year.

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