The Belgian-based shipowner lost $41.3m in the first quarter of 2015 versus a loss of just $4.3m in the same quarter last year.
The company said the poor results were not helped by the $2.9m loss recorded on the sale of the 53,505-dwt CMB Biwa (built 2002).
“Overcapacity continues to put its mark on the dry bulk markets,” the Antwerp-based owner said in a statement released late Thursday.
“In
