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J. Lauritzen lost USD 16 million in the third quarter

The dry bulk business hit J. Lauritzen with another quarterly deficit, this time at USD 16 million. The result is as expected, says CEO.

Photo: J. Lauritzen

"The dry cargo markets have shown no signs of recovery during Q3. A lack of demand growth in combination with deliveries of new tonnage will make this the reality of the market for an extended period. Our Q3 result in dry cargo is as expected and a reflection of these market conditions."

This is how CEO Jan Kastrup-Nielsen begins the statement presenting carrier J. Lauritzen's results for the third quarter.

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