ShippingWatch

Chief execs in shipping see upturn extend far into the 2020s

Due to a unique combination of factors, chief execs from all major shipping segments see the current upturn extend a number of years ahead. Among these factors is that no one is interested in ordering new vessels any time soon.

"I wouldn't say that the market is like gold. It's more like platinum," said Star Bulk CEO Petros Pappas on Tuesday. | Photo: Marine Money

The most fitting characterization of the current shipping market is to compare it to refined gold rather than flimsy glitter if you ask prominent shipping execs, which is exactly what occurred at the Capital Link conference Tuesday. Or perhaps more like platinum, as one said when describing the unusual upturn that is currently underway.

Among the optimists participating in the panel Is it all Glitter & Gold was John Coustas, CEO of the major Greek container shipowner Danaos. He projects more gold on the horizon.

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