Malaysian Bulk Carriers Bhd (Maybulk) said it expects to record a “substantial loss” for the fourth quarter.
The Kuala Lumpur-listed company has been hit by the combination of weak dry cargo and the offshore oil and gas markets.
“The group has reviewed its non-cancellable operating lease contracts for the chartered-in vessels and based on a preliminary assessment, the charter-in costs are higher than the current and likely market rates.
