J. Lauritzen suffers new full-year deficit in 2016
Hard-pressed dry bulk carrier J. Lauritzen was hit with yet another deficit in 2016, a result management deems unsatisfactory. However, the carrier's CEO Mads Zacho has been able to settle the main terms of the refinancing deal with banks that was crucial for the company's future.
J. Lauritzen finished 2016 with a new deficit, described by management as unsatisfactory. For 2016 the carrier lost USD 45.6 million, which was, however, an improvement compared to the year before, where the loss came to USD 313.4 million.
The outlook for the container market looks somewhat more gloomy in the coming time, estimates French CMA CGM. However, the container shipping company still recorded growth on top and bottom lines in Q3.