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Janholt on dry bulk upturn: There are a lot of unknown factors

Dry bulk rates have recently seen an increase following a particularly tough start to the year for the sector. But several factors make it difficult to assess how long this upturn will last, says Pioneer Marine CEO Torben Janholt in an interview with ShippingWatch.

Danish Torben Janholt is CEO of Greek shipping company Pioneer Marine. This picture shows Janholt along with the rest of the company's management team, CFO Korinna Tapaktsoglou and COO Jim Papoulis. | Photo: PR/Pioneer Marine

So far, it has been an unenviable task having to predict developments in the 2019 dry bulk market, which has gone from a free fall and a belly flop at the start of the year to the current levels, which surpass anything seen in a long time.

These significant fluctuations therefore make it difficult to predict the length of the current recovery in the market, which like the world economy is strained by the ongoing trade war between China and the US as well as lowered growth prospects in Europe, where a looming Brexit is on the receiving end of much attention. This is also the case if one asks the former CEO of J. Lauritzen, Torben Janholt, who is currently chief executive at Greek shipping company Pioneer Marine.

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