Oslo: Dry cargo outfit Western Bulk has dismissed rumours it has extensive exposure to Danish Copenship’s bankruptcy earlier in the week
Håvard Furu, the CFO of the Oslo-listed company, told Splash his firm had no exposure to the sudden decline of Copenship.
Furu, talking via his mobile, said he could not give out any numbers but said financial results will be released in a couple of days.
Western Bulk’s fleet has grown considerably over the last couple of years. Furu said the company currently is operating between 170 and 180 ships.
Western Bulk was established in 1982 and is headquartered in Oslo. The Kistefos Group, owned by Christen Sveaas, currently owns 96.5% of the shares in Western Bulk. It relisted in 2013.