Pacific Basin predicts better times for dry bulk: "Rates have bottomed"

Dry cargo operators such as Pacific Basin will still have to wait and see how long it will take for the market to turn around after last year’s slide in rates, says the company’s CEO.
Martin Fruergaard, CEO of bulk carrier Pacific Basin, is optimistic regarding 2023 outlooks. | Photo: Cyprus Shipping Deputy Ministry / Pr
Martin Fruergaard, CEO of bulk carrier Pacific Basin, is optimistic regarding 2023 outlooks. | Photo: Cyprus Shipping Deputy Ministry / Pr

The dry bulk sector could be heading towards brighter days after six months of consistent rate declines. But exactly when rates are expected to rebound is difficult to say, states Hong Kong-based carrier Pacific Basin and the company’s CEO, Martin Fruergaard.

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