Pacific Basin hit with huge deficit from weak market
The large dry bulk carrier Pacific Basin, listed in Hong Kong, suffered a deficit of USD 285 million in 2014 after a million dollar impairment and an extremely weak dry bulk market.
BY LOUISE VOGDRUP-SCHMIDT
Hong Kong-based Pacific Basin has been named one of dry bulk's biggest losers in 2014 following the declining dry bulk rates. This prediction is holding true, according to the annual report for the carrier, which was released Thursday morning.
The outlook for the container market looks somewhat more gloomy in the coming time, estimates French CMA CGM. However, the container shipping company still recorded growth on top and bottom lines in third quarter.