Jinhui Shipping and Transportation has sunk to a full-year loss of $189m in a year it described as the worst ever for dry bulk shipping.
Hong Kong and Oslo-listed shipowner said it took non-cash impairment losses on owned vessels of $113m and assets held for sale of $45m.
The poor 12 month performance was impacted by a weak last quarter to the year when it lost $121m when it recognised the bulk of the write-downs.
Revenue
