Western Bulk suffered USD 57 million deficit in 2014

Dry bulk carrier Western Bulk finished 2014 with red numbers on the bottom line following a profit the year before. The carrier has now secured a larger contract coverage for 2015 and reduced exposure in a tough market.

BY DANIEL LOGAN BERG-MUNCH

The downturn in the dry bulk market is now sending the Norwegian dry bulk player Western Bulk below the bottom line in 2014. The carrier notes a deficit after taxes of USD 57 million compared to a profit of USD 5.3 million in 2013, according to the annual report Wednesday.

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Western Bulk suffered USD 57 million deficit in 2014

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Western Bulk CEO: 2014 was a five-year low

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Front page now

Maritime & Merchant notes fierce competition in loans for shipping

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Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

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Analysis: Capesizes have become too expensive despite strong market

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