XO Shipping improves result in 2014

The dry bulk carrier XO Shipping achieved a result of USD 2.9 million in 2014, which is an increase compared to 2013. Revenue grew by USD 40 million, according to the financial report.

It came to small gains for the Danish dry bulk player XO Shipping in 2014 which was a year, described by industry stakeholders as one of the worst ever. Nonetheless, XO Shipping was successful in bringing the result up to about USD 2.9 million, which is an increase compared to the previous year, where the result landed at USD 2.5 million.

Revenue grew from about USD 50 million in 2013 to USD 96.1 million last year, as shown in the recently released annual report, where it is not noted whether or not the result is pleasing.

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