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Herman Billung on historically strong market: "Somewhat of a fairy tale"

Even for seasoned dry bulk profiles like Herman Billing, it was impossible to imagine in the Spring of 2020 that the rates for large capesize vessels would reach around USD 70,000. A year and a half later, the upturn appears to be holding up. "I'm quite surprised by how strong it is," says Billung to ShippingWatch.

Herman Billung is surprised at how strong the dry bulk market is at the moment, which benefits Star Bulk, as the company makes high earnings from the soaring spot rates. | Photo: Star Bulk

All dry bulk segments are powering ahead at the moment with no signs of stopping any time soon. It's going so well, in fact, that it's difficult to find anything to complain about in an industry that has otherwise endured hardships.

Even though there is reason for dry bulk operators to be pleased, the market has behaved in slightly different and more surprising ways than usual. Such is the verdict from Herman Billung, General Manager Norway at Star Bulk, in a interview with ShippingWatch.

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