Nine US-listed dry bulk firms lost $11.33bn over the past decade, reports Splash 247.
US-listed dry bulk companies
Alphabulk, part of AXS Marine, launched a withering attack on the poor financial performance of US-listed dry bulk companies over the past decade.
- Most companies still in the red in Q1 and likely for Q2, Alphabulk has run the numbers on nine US-listed dry bulk companies from 2011 to the present day.
- In total, they have notched up an accumulated loss of $11.33bn in 10 years – an average loss of more than $1bn per company over the period.
The report looked at the losses of Dryships, Genco, Eagle Bulk, Navios Maritime, Starbulk Carriers, Scorpio Bulk, Diana Shipping, Golden Ocean and Safe Bulkers.
- The worst performer over the past decade has been Dryships with an accumulated deficit just shy of $3bn.
- Dryships is followed by Genco, at $2bn.
- Only one company has managed to stay in the black, Safe Bulkers, with a $114m profit over the period and just three years in the red.
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Source: Splash247
