Nordic Bulk Carriers lost USD 5.2 million and its equity

Arctic specialist Nordic Bulk Carriers lost its equity in 2014, which by the end of the year came to negative of USD 3.9 million. But the owners will provide the necessary liquidity and has secured the cash resources as a minimum until January first, 2016.
Photo: Marinvest
Photo: Marinvest
BY OLE ANDERSEN

Danish Nordic Bulk Carriers, which specializes in sailing in icy waters through the North-West and North-East Passages, suffered a deficit of USD 5.2 million in 2014, which is more than double the deficit in the previous year of USD 2.1 million. Exiting the year, the company had lost its equity, but the ownership circle, led by US-based main shareholder Phoenix Bulk Carries, has promised to support the company.

Already a subscriber?Log in here

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.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
!
!
Must contain at least 6 characters
!
Must contain at least 2 characters
!
Must contain at least 2 characters

Get full access for you and your coworkers

Start a free company trial today

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

!
Newsletter terms

Front page now

Further reading