The London-listed company reported a 13.6% drop in EBITDA to $20.9m for 2013 and a net loss which fell to $12.2m from $65.3m the previous year, as it said its dry bulkers “benefited from a recovery in this sector and traded profitably at the bottom line” in the fourth quarter.
“Looking forward into 2014 we believe that the dry bulk sector is going to recover before the containership sector and offers a more attractive risk-return profile so we are planning to further increase our exposure to small-and medium-sized dry bulk carriers and reduce our exposure to older containerships,” Dragnis said.
Goldenport
