Norwegian shipowner Westfal-Larsen took a bath with its bulker portfolio in 2019, but estimates show the tradition-rich shipowner is benefiting strongly from the firming dry cargo market.
Parent holding company Skibsaktieselskapet Navigation conducted a massive write-down of its bulker fleet two years ago.
And it has not reversed this move in spite of the massive upturn in the market late last year and so far in 2021.
