ShippingWatch

J. Lauritzen to sell ships to obtain liquidity

"There is a fight for survival going on in the industry, where it is hard to imagine improvements for many years to come," says head of dry bulk at J. Lauritzen, Peter Borup, in an interview with ShippingWatch. The carrier plans to sell and lease back several vessels.

Photo: Pressefoto/Carsten Lundager

"I don't believe that this market will improve for many years to come," says head of dry bulk at J. Lauritzen, Peter Borup, thus confirming the extraordinary crisis currently plaguing the bulk market and which the Danish carrier has been severely impacted by in recent years.

Peter Borup himself has lived 18 years in Asia, 12 of these in Singapore, and was hereby situated perfectly in the period in which the economic growth in the region was booming, money traded hands rapidly and as a young trader, it was easy to make USD 100,000 on one freight. Two years ago, he left Norden in Singapore and arrived at J. Lauritzen in Copenhagen, at a time when the market was going from bad to worse.

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