ShippingWatch

Western Bulk lands a profit in first quarter

The Norwegian dry bulk shipowner Western Bulk exited the first quarter of the year with a profit after taxes of USD 5.5 million. Deadlock in the industry will continue throughout the year, the company says.

Dry bulk carrier Western Bulk achieved improvements in the first quarter of the year, in a market where carriers are struggling to generate profits. The carrier noted a result after taxes of USD 5.5 million, which is a significant improvement from the fourth quarter deficit of USD 45.6 million, not to mention the entire deficit for last year of 57 million.

The result was pulled up by derivatives of USD 8.3 million and an increased time charter result of USD 5.1 million, according to the financial report Wednesday.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs