Struggling carrier J. Lauritzen now faces the consequences of the massive downturn in the dry bulk market in recent months by performing a USD 160 million impairment. The impairment in based on decreasing ship asset values and loss provisions on older charter contracts, said the carrier in a statement on Friday.
The impairment means that J. Lauritzen now expects a full-year 2014 net deficit of around USD 160 million following significant losses in the two previous years.
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