The US bulker owner’s New York-listedstock took the title of “Worst Performer” on the TradeWinds Shipping Index inthe hour following the opening bell as it plummeted 13.89% to $1.55.
Industry observers tell TradeWinds thatthe revelationdid not come as a big surprise to most investors or bondholdersbut admit many still found themselves unsettled by other admissions contained ina filing with the US Securities & Exchange Commission.
In
