Danish shipowner Lauritzen Bulkers is continuing to shrink its chartered fleet as it targets new Chinese business.
The Copenhagen company logged a pre-tax loss of $18m for 2020, down from a deficit of $88m the year before.
The outfit operated an average of 73 ships last year. Revenue was down at $388m, from $409m in 2019.
Lauritzen Bulkers has posted an annual loss every year since 2016, according to its annual report.
