Pacific Basin eyes stronger bulk market ahead after weak rates in Q1

The Hong Kong-based dry cargo operator saw heavily reduced earnings in the year’s first quarter but expects better market fundamentals later in the year.
Martin Fruergaard, CEO of bulk carrier Pacific Basin, is optimistic about this year's market prospects. | Photo: Cyprus Shipping Deputy Ministry / Pr
Martin Fruergaard, CEO of bulk carrier Pacific Basin, is optimistic about this year's market prospects. | Photo: Cyprus Shipping Deputy Ministry / Pr

The medium-sized supramax and handysize bulk vessels have sailed at markedly lower rates in the beginning of 2023 compared to the heydays of last year, reports Pacific Basin, a carrier focusing on these two ship types.

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