Western Bulk was not able to take advantage of the market volatility seen in the
third quarter, mainly due to having a short position going into the strong
market rebound in August, combined with investments in new trading patterns.
Although trading performance generated positive Net TC, it was not high enough
to generate positive earnings after tax for the period. No dividend will
therefore be declared for Q3-23. 

As Western Bulk is mainly focused on trading the short-term market, the weak
performance for the third quarter is not expected to have a negative impact on
coming quarters. However, following a weak start of the year, the full year 2023
results are expected to end in negative territory. 


Contacts 
For more information, please contact:  
Hans Aasnæs, Chief Executive Officer 
Tel: +47 922 53957 
E-mail: hans.aasnas@westernbulk.com 

Kenneth Thu, Chief Financial Officer  
Tel: +47 988 74302 
E-mail: kenneth.thu@westernbulk.com 

 

About Western Bulk Chartering: 
Western Bulk Chartering AS is a major dry bulk shipping operator. The company is
owned by the Kistefos Group (68,7 %), Ojada AS (8,3 %) and a group of about 1300
other shareholders. See www.westernbulk.com for more information. Western Bulk
Chartering AS is registered on Euronext Growth Oslo. 


Disclaimers 
This press release contains forward-looking statements. Forward-looking
statements are statements that are not historical facts and may be identified by
words such as "believe," "expect," "anticipate," "intends," "estimate," "will,"
"may," "continue," "should" and similar expressions. The forward-looking
statements in this release are based upon various assumptions, many of which are
based, in turn, upon further assumptions. Although Western Bulk Chartering
believes that these assumptions were reasonable when made, these assumptions are
inherently subject to significant known and unknown risks, uncertainties,
contingencies and other important factors which are difficult or impossible to
predict and are beyond its control. Such risks, uncertainties, contingencies and
other important factors could cause actual events to differ materially from the
expectations expressed or implied in this release by such forward-looking
statements.

The information, opinions and forward-looking statements contained in this
release speak only as at its date and are subject to change without notice
Western Bulk Chartering disclaims any obligation to update and revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.