First dry bulk result this season shows big deficit

Indian-owned dry bulk carrier Mercator is the first dry bulk carrier to publish results in the just-begun third quarter reporting season. The result is a considerable deficit.

Dry bulk carrier Mercator has launched the bulk sector's reporting season with a 3rd quarter interim report showing a 40 percent slide in revenue and an 89 percent bigger deficit than in the third quarter 2014.

"The decrease in revenue for the quarter and half year is mainly due to fall in spot and contract rates and sale of a vessel in the first quarter of the current year," notes Mercator in the interim report.

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