In Tschudi’s 2014 annual report, the company describes losses at Sydvaranger as posing a “threat” and a big burden to the diversified shipping group. But now Tschudi managing director Jon Edvard Sundnes says the wording was “unprecise”.
The company has a 13.86% stake in Northern Iron Ltd, which owns the mining company that has now gone bankrupt. According to Sundnes, Tschudi had already booked considerable losses on the shares.
The
