Croatia’s Atlantska Plovidba in loss

Croatia’s Atlantska Plovidba has posted a huge loss for 2014 despite a small increase in revenue.
Atlantska Plovidba, bulker owner, saw its deficit soar to HRK 746m ($110m) from HRK 17m in 2013. Atlantska Plovidba operating loss for 2014 was HRK 41.5m, compared to HRK 18.3m in the corresponding period.
Erste Group downgraded the company as the shipping outlook stayed “poor”.
Croatia’s Atlantska Plovidba has 15 bulkers on the water with 4 more due for delivery in 2015 and 2016.