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Shipping banks: J. Lauritzen will burn cash again in 2016

J. Lauritzen faces severe challenges in 2016 as well, note the two major Nordic shipping banks Nordea and Danske Bank in new analyses of the struggling dry bulk carrier. The carrier's rating is now on par with companies such as Songa and Solstad, described as "speculative."

Photo: J. Lauritzen

J. Lauritzen faces yet another year in which the Danish dry bulk carrier will have to burn cash due to the fact that the company's earnings are unable to cover operating and debt-related costs.

This is the unanimous conclusion reached in two separate analyses from the major Nordic shipping banks Nordea and Danske Bank, both of which follow the carrier's developments in light of J. Lauritzen's bond loan listed on the Oslo Stock Exchange.

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