ShippingWatch

New Lauritzen CEO: Have to wait for improvement in bulk

The misery in the dry cargo market is caused by the awful conditions of the world economy and is therefore difficult for the individual shipping company to change. That is why J. Lauritzen will have to wait it out and hope for an improvement in the bulk market which makes up half of the company’s business, the future Lauritzen CEO says.

The bulk market is doing badly and in recent years, it has affected the annual results of J. Lauritzen negatively as bulk makes up half of the company’s business profile. It is difficult to turn this development around without outside help, says Jan Kastrup-Nielsen who has just been named the new CEO of J. Lauritzen in an interview with ShippingWatch.

“It is difficult to tell when the market will improve. We are not magicians. We depend on some external factors and the market will have to improve before the bulk market, and our losses, turn around”, Jan Kastrup-Nielsen, who is set to begin his new job in February 2013, says.

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