Western Bulk Chartering AS
OSE:WEST
Western Bulk Chartering AS
Western Bulk Chartering AS engages in the management of dry bulk vessels. The company is headquartered in Oslo, Oslo. The company went IPO on 2017-06-01. The firm runs a fleet of approximately 170 vessels, all of which are chartered in on various time periods from a range of owners. The firm has diversified customer base consisting of commodity producers, consumers and traders. The firm is a subsidiary of Western Bulk ASA.
Western Bulk Chartering AS engages in the management of dry bulk vessels. The company is headquartered in Oslo, Oslo. The company went IPO on 2017-06-01. The firm runs a fleet of approximately 170 vessels, all of which are chartered in on various time periods from a range of owners. The firm has diversified customer base consisting of commodity producers, consumers and traders. The firm is a subsidiary of Western Bulk ASA.
Net Loss: Western Bulk reported a loss after tax of $2.1 million for the first half of 2025, mainly due to a weak Q1 affected by high-cost vessels fixed in 2024.
Improved Q2: The company saw stronger performance in Q2 despite a weak market, aided by short positions and flipping purchase options that generated $3.1 million in Net TC.
Cost Control: Administrative expenses fell below $10 million, down $3 million year-over-year and tracking well below the $22 million full-year target.
Liquidity: The company maintains a strong liquidity position with $64 million in available cash and nearly $48 million in book equity.
Market Outlook: Management is upbeat about Q3 after a market rebound but remains cautious for Q4 due to US-China trade tensions, especially around soybean purchases.
Margin Improvement Focus: The company is emphasizing talent retention, performance culture, and data-driven decision-making to drive future margin improvement and return to paying dividends.
