Weak dry bulk rates are expected to take their toll on Sinotrans Shipping's financial result for 2016.
The Chinese shipowner said it expects its net loss for last year to increase “substantially”.
This means its red ink for the 12 months of 2016 will run to more than $81.5m, which is the deficit reported by the company in 2015.
Although Sinotrans shipped more containers in the first nine months of 2016, the slow recovery of the global economy will have an effect on the company’s results.
Sinotrans
