Hong Kong: Hong Kong-listed bulk shipping operator Great Harvest Maeta Group is looking to diversify to non-shipping business amid the challenging outlook of the bulk shipping market.
The company issued a warning to investors that it expects the consolidated loss for the fiscal year ended March 31 will be increased substantially compared to the loss in the previous year.
“With the difficult shipping market condition and challenging operating environment ahead, the group intends to identify new development opportunities, expand our scope of business and diversify our income stream by actively expanding into other businesses apart from shipping business,” the company said in a release.
Currently Great Harvest Maeta owns four bulkers with a total capacity of about 275,138 dwt.
