Danish operator Ultrabulk reported a record year in 2021, doubling revenues and strongly lifting profits on the back of an expanding fleet and positive dry cargo markets.
Net earnings from shipping rose to $258m, from $141m, as revenues increased to nearly $1.8bn from $900m in 2020.
“Fleet congestion, longer port stays and other types of fleet inefficiencies have been major factors driving up freight rates in 2021,” said chief executive Per von Appen.
