Western Bulk CFO denies Copenship exposure

Western Bulk CFO denies Copenship exposure

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.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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