Rio Tinto breakaway to kick-start new bulk company

The current dry bulk market does not make it easy to kick-start a new shipping company. But tough circumstances have created new visions for Peter Janholt, who is repositioning August Marine Advisors, which counts several breakaway employees from Rio Tinto, he tells ShippingWatch.

"It's no secret that it is hard to start up in the current market, in regards to the low commodity prices as well as the shipping market. Every company, both in mining and shipping, are focusing on costs," says Danish Peter Janholt.

After 19 years at the world's largest freighter of dry bulk, the mining company Rio Tinto, he decided opted to try out his own company, August Marine Advisors (AMA), which started up last summer. At a time, when the dry bulk industry was not doing well, and has not improved since. Still, the company according to Janholt, has gotten off to a pleasant start on the consultant side, with jobs that include work from cargo terminals in Australia.

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