The owner’s stock, which trades in London, landed on the TradeWinds Shipping Index’s list of ‘worst performers’ as it slid 7.71% to £2.45 ($3.06).
Observers say they “weren’t surprised” by the dip since a number of publicly-traded bulker owners have taken a beating in recent weeks due to lacklustre freight rates.
In addition, one industry contact who actively follows New York-listed shipping stocks argued that management’s interim update likely left investors unsettled.
Earlier
