Published on : 2017-05-10 16:46:49

There were just too many ships that were built and delivered and we ve seen a real slowdown in the number of ships that have been coming on to the water, he explained. The challenging industry conditions of recent years have particularly punished smaller companies, who have been unable to access european bank financing. Shipping consolidation ahead as industry sails on from three decade lows updated 3:15 am et thu, 9 march 2017 cnbc. For those with stronger balance sheets, the time for consolidation is approaching, according to the genco boss. To view this site, you need to have javascript enabled in your browser, and either the flash plugin or an html5-video enabled browser.

Follow cnbc international on twitter and facebook. Com shares tomohiro ohsumi | bloomberg | getty images) the shipping industry is on course for consolidation as it moves off three-decade lows, the president of drybulk shipper genco said on wednesday shipment consoildating software. Playingshipping consolidation ahead as industry sails on from three decade lows updated 3:15 am et thu, 9 march 2017 cnbc. Last year we probably saw the low and it was a 30-year low in terms of freight rates and asset values and now we re starting to see just the very beginning of a recovery, wobensmith said. Anticipating a cyclical recovery to kick in at the end of this year, president john wobensmith told cnbc s squawk box that a pullback in shipping supply is the main driver of the benchmark baltic dry index s recovery of more than 7 percent this year.

Show chapters demand dynamics have also been a critical factor with chinese demand for iron ore to support its steel industry ramping up again after a sharp downturn that reached its nadir just over a year ago. Download the latest flash player and try again. The index, which assesses the price of moving the major raw materials by sea, hit its lowest level ever of $290 during 2016 before resuming a bumpy journey higher towards its current price of just about $1, asian web cam chat no sign up.
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