|
29.03.2022
By utilizing the continued high market volatility, both in respect of total market levels and relative levels between the Pacific and Atlantic basins, Western Bulk has had a very good start of the year.
The company has also managed to limit negative impacts from the Russian invasion of Ukraine.
The high market volatility seen in 2021 has continued into 2022. The Baltic Supramax Index started the year at about 24.000 USD/day before falling close to 30 % and bottoming out at about 17.000 USD/day in the beginning of February.
Since then, the market has increased by more than 90 % to current levels of about 33.000 USD/day.
The spreads between the Atlantic and Pacific basins have also seen significant volatility which has benefited Western Bulk.
For the rest of the year, it is to be expected that the market volatility will come down somewhat, and from Q2 the company anticipates somewhat lower quarterly results compared to Q1.
Dividend for Q1 will be announced 25th of April and paid beginning of May.
Western Bulk, press release
