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Jinhui Shipping: Bulk market got chaotic end 2015

Oslo-listed Jinhui Shipping exits 2015 in step with a dry bulk horror year with a deficit of USD 379 million, as the carrier's asset values are impaired significantly. The last months of the year were chaotic, notes management.

Photo: PR-foto

Things went straight downhill for Hong Kong-based dry bulk shipowner Jinhui Shipping and Transportation in 2015, according to the carrier's annual report, published Monday. The dry bulk crisis worsened in the past year, in which the company booked a significant impairment on its vessel assets, while the revenue noted a big slide.

In 2015 Jinhui, which is listed on the Oslo Stock Exchange, suffered a consolidated net deficit of USD 379 million against a loss of USD 87 million in 2014.

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