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.

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.

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