J. Lauritzen could face new Korean beating

The major Danish dry bulk shipping company was hit hard by the Korea Line bankruptcy in 2011. Now Lauritzen Bulkers risks considerable losses from the collapse of another Korean shipping company, STX Pan Ocean, warns the shipping company.

Photo: Rederiforeningen

In a brief to the Oslo Stock Exchange, J. Lauritzen warns that the financial crisis in Korea's largest dry bulk carrier, STX Pan Ocean, could have a significant impact on the shipping company's results for 2013 as a whole.

J. Lauritzen has two major capesize bulk carriers on long-term contracts at the South Korean shipping company, which went under receivership last week.

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