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Goldman Sachs: Dry bulk crisis until 2020

Goldman Sachs is drawing a new nightmare scenario for the international dry bulk industry, pointing to low rates and declining fleet utilization ahead of 2020.

Photo: Rotterdam Havn

The collapse in the international dry bulk market with the lowest rates could continue until 2020 and maybe even longer, says Goldman Sachs in a new brief according to Reuters.

Goldman Sachs states that the main explanation is far too many dry bulk vessels combined with several structural conditions, not least the shift in China's economy from production and investments to a far more consumer-driven economy in the years to come.

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