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Greek dry bulk owners suffer tough quarter

Greek bulker owner Pioneer Marine posted a net loss of $2.1m in the third quarter of the year, but said it was well positioned to capture an upturn in charter rates. EuroDry scraped together a $500,000 profit

Athens-based Pioneer Marine sold its vessel Fortune Bay in October to raise $2.9m. It says it has made ‘remarkable progress’ cutting operating and debt costs despite a coronavirus-hit market and hopes stimulus will support the market. EuroDry said it continued to evaluate using its public platform to consolidate other fleets

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