"Dry cargo markets remained at historically depressed levels due to sustained weak trade growth and tonnage oversupply," said CEO Jan Kastrup-Nielsen in a final comment on J. Lauritzen's interim report.
The comment has been virtually the same since Kastrup-Nielsen took over the reins of the more than 130-year-old dry bulk carrier from predecessor Torben, and this fact in itself testifies to how he and the carrier have been fighting the market forces only to again and again having to acknowledge that things have not improved.
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