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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