Gantry crane unloading bulk grain from hold.
No one doubts that the [dry bulk] market has shrunk and times will be tough for the near future, but most of the market feels that the bottom has been reached and a slow rise has begun. The CEO of Hong Kong’s biggest commodity ship operator stated … that his company considered the possibility of adding to their fleet in the second half of next year. With the spectre of huge overcapacity looming as more new builds cause vessel prices to slump, coupled with the knowledge that freight rates are likely to fall with the increased level of competition, the surviving companies are sharpening their steely knives ready for the feast.