Cargill senior analyst: 1000 bulk vessels need to be scrapped

At least 1,000 dry bulk vessels will need to be scrapped in order to secure balance between supply and demand in the dry bulk market, projects chief analyst at trading house Cargill, which controls a fleet of 500 bulk vessels.

BY NIKLAS KRIGSLUND

1,000 vessels need to be scrapped before balance is restored to the crisis-stricken dry bulk market.

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