Tough outlook for Maybulk; dry bulk business to stay depressed

Kuok (left): ‘The outlook will remain to be a struggle and we will continue to see challenges due to the unfavourable macro conditions.’ With him is Ahmad Sufian.

KUALA LUMPUR: Malaysian Bulk Carriers Bhd (Maybulk) expects the depressed dry bulk trade environment to persist this year on weak demand and made worse by the oversupply situation in the market.

The group, which reported a RM24mil loss in the first quarter ended March 31 on weak charter rates, said yesterday its immediate focus moving forward was to selectively monetise its assets to improve liquidity.