Bulk

Scorpio Bulkers hit with bigger loss than expected

The dry bulk carrier lost USD 33.4 million in the first quarter, but the deficit is significantly bigger when counting losses from ship sales as well as financing costs.
Photo: Scorpio Bulkers
Photo: Scorpio Bulkers
BY OLE ANDERSEN

Scorpio Bulkers finished the first three months of 2016 with a net deficit of USD 33.4 million. Counting vessel impairments and ships up for sale, financing costs related to credit facilities and canceled charter contracts, the deficit (GAAP) comes to USD 58.3 million, according to the carrier's first quarter interim report.

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