Western Bulk Chartering AS - Earnings Release 2016

Western Bulk Chartering AS - Fourth quarter and preliminary 2016 results

Market rates and operating performance continued to improve

in Q4-16

The market rates improved during Q4-16, with rate levels

strengthening in the Atlantic basin, while rates in the

Pacific basin remained very low. The Group has a significant

presence in both areas. For the fleet that was operated in

the Atlantic, the Group benefited from the improved market.

The Group's operating performance continued to improve in Q4-

16, with both an increased operated fleet and increased Net

TC from the previous quarter.

"I am pleased to see that the positive development in our

margins and the operated fleet continue, and that the dry

bulk market has shown some signs of life again during Q4-16,

with substantial rate improvements in the Atlantic basin.

This basin difference and volatility in rates increase the

opportunities for the Group " says Jens Ismar, Chief

Executive Officer of Western Bulk Chartering.

Please read more in the attached press release.

For more information, please contact:

Jens Ismar, Chief Executive Officer

Tel: +47 9009 0897

About Western Bulk Chartering:

Western Bulk Chartering AS is a major dry bulk

shipping operator. The company is privately owned by a

group of about 250 shareholders. See

www.westernbulk.com for more information. Western Bulk

Chartering AS has an outstanding bond

loan trading on Nordic ABM under the ticker

symbol "WBULK01 PRO".

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