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Analysis: 2016 could kick-start wave of Chinese bulk bankruptcies

A big part of the Chinese dry bulk sector is suffering from several years of extreme losses and many players are in dire need of equity, according to a new study from Shanghai International Shipping Institute (SISI).

Photo: PR-foto

Chinese dry bulk carriers are suffering across the board from many years of severe losses in the weak dry bulk shipping sector, and several carriers are facing a dire need for fresh capital. According to a new study from Shanghai International Shipping Institute (SISI), cited by news agency Reuters, the depressing market conditions could continue in 2016 and trigger a wave of bankruptcies in the sector.

In a survey performed among 60 of China's largest dry bulk carriers, 60 percent of respondents say that they are struggling with prolonged losses while 40 percent have serious liquidity problems.

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