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Golden Ocean CEO: 2016 will be a dry bulk elimination race

2016 will be a decisive year for dry bulk in which far from everyone will emerge victorious, says Herman Billung, CEO of Golden Ocean, which has a series of Capesize vessels set for delivery in the near future.

Photo: Golden Ocean

"I think the industry is going to look very different a year from now if the market continues like this. There are going to be dramatic consequences for the industry across the board," says Herman Billung, CEO of John Fredriksen's dry bulk carrier Golden Ocean.

The CEO faces challenges that include finding work for a series of newbuildings set for delivery this year in a market that hit a new low on Monday with a Baltic Dry Index of 415 points - a market that far from everyone will survive unscathed.

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