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Jinhui warns of significantly worse 2015 result

Oslo-listed Jinhui joins the mass of dry bulk carriers who no longer expect that their projected 2015 results will live up to the hard reality of the market. The carrier thus reports deficits and impairments.

The  deficit for 2015 as a whole will bring "a significant increase" compared to the same period 2014, notes the management of dry bulk carrier Jinhui after a preliminary review of the past quarter, informs the carrier in a corporate statement.

In the statement the carrier describes the current market as the most challenging dry bulk environment in three decades, and management at the carrier - based in Hong Kong and listed on the Oslo Stock Exchange - in late 2015 reviewed the current market perspectives. Jinhui points to the dry bulk segments identity crisis in the fourth quarter, interest rate developments in the US economy, the expected slowdown in the Chinese economy as well as meltdown in commodity prices as key factors that shaped 2015 and will likely continue to weigh down the market going forward.

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