The company said on Monday impairments of EUR 27.4m had already been recognised in its nine-month results to 30 September.

This was due to a “sustained downturn” in bulker markets. The company owns four bulkers in its fleet of 13 ships.

The ongoing negative trend in the final quarter has increased this impairment by EUR 5.4m

The non-cash write-downs relate to ships “classified as non-current assets”, it said.

Marenave