US-listed dry bulk companies could record a collective loss in excess of $1bn this year, a new report from Alphabulk has warned. With Q1 results in for six out of the eight bulker firms listed in New York Alphabulk said “the picture is not pretty” as it extrapolated potential full year losses.
“As the market still does not show any sign of real recovery, we can say these Q1 results give us a flavour of what is to come in terms of 2016 as a whole if the market stays where it is,” Alphabulk said in its June monthly report.
The eight firms are Golden Ocean, DryShips, Scorpio Bulkers, Genco, Eagle Bulk, Diana Shipping, Safe Bulkers, Navios, Star Bulk and Paragon.
“Not one of these companies recorded a positive result in 2015, and collectively they have clocked up $7 billion in losses since January 2010,” Alphabulk reported.
Alphabulk is part of French broking software specialist AXSMarine.