J Lauritzen trimmed its loss for the first three months of 2016, with the dry market under continuing pressure and gas carriers performing in line with expectations,
The bulker and LPG carrier owner reported a net loss of $8.26m in the first quarter, compared to $27m in the same period of last year.
Jan Kastrup-Nielsen, president of J Lauritzen, said: “Dry cargo markets remained under severe pressure and on average Q1 reached an unprecedented low level, whereas the gas carriers performed largely as expected.”
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