Kristian Jebsens Rederi chops annual loss and expects profit in 2020

Norway's Kristian Jebsens Rederi has reported a smaller loss for last year and managing director Bjorn Jebsen said it is heading for a profit in 2020.

The Bergen-based bulker company's annual report shows it cut its pre-tax loss to NOK 100,000 ($10,700) in 2019, from NOK 17m a year earlier.

It ended the year with negative book equity of NOK 19m, but Jebsen told TradeWinds that its value-adjusted equity was positive for the year.