Several dry bulk carriers could collapse going forward

Some dry bulk carriers will "break their neck" in the year to come, says Per Hansen, investment economist at Nordnet, following Norden's major impairment. Massive overcapacity will not disappear going forward, he tells ShippingWatch.

Photo: Star Bulk

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

CBS launches board program for the shipping industry

Supported by a number of high-profile names from the global shipping industry, CBS’s new Blue Board Leadership Programme’s first module is already half full. The faculty team includes BW Group Chairman Andreas Sohmen-Pao.

Further reading

Related articles

Latest news

See all jobs