ShippingWatch

XO Shipping: We prefer a slightly higher bottom level

As one of only a few carriers, XO Shipping is still making money in the challenging dry bulk market. Last year's bottom line came to USD 4.1 million, while 2016 also got off to a strong start. However, the company would prefer the market to be doing better, Director tells ShippingWatch.

XO Shippings does not own or lease vessels on long contracts. Yet, the dry bulk carrier still feels the effect of competitors recently becoming more optimistic and expanding the fleet too much in recent years.

While the Danish bulk company managed to make USD 4.1 million in 2015, it would be preferable to have a slightly better balance between supply and demand on the dry bulk market.

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