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Five days of massive losses tremble the bulk industry

Over the course of five days, four of the world's pace-setting dry bulk carriers publish their annual reports. One thing is certain: Huge sums have been lost on the oceans, and 2016 does not look any better. Lauritzen was first to present a big deficit.

Photo: J. Lauritzen

If anyone doubted the dire situation in the global dry bulk industry, all they have to do is follow the news for the next five business days. Four of the world's leading dry bulk carriers: Financial figures from J. Lauritzen, Scorpio Bulkers, Pacific Basin and Norden paint a picture of an industry which has never fared worse.

The most anxious anticipation preceded the report from J. Lauritzen, which released a surprisingly large deficit of USD 313 million on Thursday. On one hand, the old Danish dry bulk carrier is not experiencing a downturn much different than what other carriers are seeing.

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