Not all players in the dry bulk market will survive in the current environment, says Per Hansen, investment economist at Nordnet, following Norden's major impairment Wednesday, after which the carrier expects a full-year deficit of up to USD 290 million for 2014, and Norden does not expect the market to improve in the coming years.
"The next six to 12 months will be tough, and there's nothing to indicate that things are going to get better. Some players will break their neck in this process, and we'll see some adjustment. But the rates will remain under pressure," he tells ShippingWatch, adding that it remains difficult to say what will happen after this.
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