Brief: Jinhui Shipping's operating loss grew to $31.2 mln in Q3

Jinhui Shipping and Transportation

30/11/2015 04:56

Nov 30 (Reuters) - Jinhui Shipping & Transportation 
 JINS.OL : 
    * Says Q3 revenue $24 mln vs $27 mln year ago 
    * Says Q3 operating loss $31.2 mln vs $14.4 mln year ago 
    * Says board does not recommend dividend for the quarter 
    * Says dry bulk market recovery hindered by slower demand 
from China, a low oil price that discourages slow steaming and 
irrational ordering of newbuildings 
    * Says excess newbuilding of vessels now seems to be coming 
to a halt however 
    * Says continued uncertainty can make make business 
performance and asset values volatile 
    * Says to maintain strong financial position; be ready to 
act in best interest of its owners under different scenarios 
 
Source text for Eikon:  ID:Obi7LFTha  
Further company coverage:  JINS.OL  
 
($1 = 8.6952 Norwegian crowns) 
 
 (Reporting By Terje Solsvik) 
 ((terje.solsvik@thomsonreuters.com;))