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Norden CEO does not expect improved bulk market until 2021

2020 has been written off for the dry bulk market, says Norden CEO Jan Rindbo, who currently sees rates that can keep ships sailing, but not much more than that. "The question is also what kind of world we'll return to," he says.

Photo: Lars Krabbe/ERH

Economic slowdown in China. Closure of mines in South Africa. Rates plunging to just above operating costs.

Sliding fuel prices that water down the benefit of having installed scrubbers. A global economy that faces a violent, sudden drop. Too many newbuilds.

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Poseidon Principles set to raise ambitions in coming weeks

The banks in Poseidon Principles are working on the basis of halving CO2 emissions in shipping by 2050. At the same time, some of the same banks are working towards a target of CO2 neutrality by 2050 as part of the Net-Zero Banking Alliance. Before long, Poseidon will reassess its ambition.

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