Shipper Golden Ocean warns on profit, supply chains due to coronavirus


FILE PHOTO: A boy looks at cargo ships passing along the Pearl River in Guangzhou, Guangdong province, August 6, 2014. REUTERS/Alex Lee

OSLO (Reuters) - Shipping group Golden Ocean warned on Tuesday its profit would be hit by a slowdown in demand due to the coronavirus outbreak in China, sending its shares down more than 3% in early trade.

The world's second-biggest economy has seen business activity curtailed in recent weeks as it battles to combat the spread of the virus, pushing down shipping rates for commodities such as coal and iron ore used in Chinese factories.

The Star Festive Promo: Get 35% OFF Digital Access

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

US Supreme Court strikes down Trump's sweeping tariffs
Explainer-What charge might King Charles' brother face after his arrest?
France's far right seeks to deepen mainstream credibility after activist's killing
Analysis-Britain's royals face their worst crisis in 90 years over Andrew's Epstein links
Trump says he is considering limited military strike on Iran
France allows culling of around 200 wolves to protect livestock
Germany's Merz vows to keep out far-right as he warns of a changed world
Spain's top court rejects father's bid to halt daughter's euthanasia
Germany's Merz says his conservatives will not partner with far-right AfD
Norway moves some of its 60 soldiers in Middle East due to security situation

Others Also Read