China hardly has to support the dry bulk freight market

Two dry bulk shipping companies in Hong Kong high-rise in Hong Kong, respectively, said the second half of dry bulk shipping market will be less favorable than in the first half, facing downward pressure on freight rates, although the Chinese mainland will continue to support the huge demand for dry bulk market, but the needs of a single country has always been difficult to lead the dry bulk market, according to Su.

Pacific Maritime Klaus Nyborg, Deputy Chief Executive Officer, said, expected in the second half there will be more new ships entering the market, dry bulk cargo ship in the third quarter will be apparent over-supply situation, freight will continue to fall. In his view, the market will remain very dependent on the mainland of the dry bulk demand, if we do not support the huge demand in the Mainland, this year's dry bulk market will be a disaster, it is estimated at about four troughs twelve months later this year, dry bulk cargoes are shipped to the mainland of China .

The company's 77.8% decline in their profits in the first half, to 74.8 million U.S. dollars. Nyborg said the company's current financial position remains good, this year will also receive two handysize vessels and one ro-ro ship.

Jinhui Shipping Chairman Wu Shaohui, said the mainland will continue to support the dry bulk market, the main driving force, but he pointed out that the mainland can only provide the market with huge demand for short-term support, the problem of excess capacity must be a drag on the long-term shipping industry, the needs of a single country not enough to carry dry bulk market, according to Su. In his view, dry bulk shipping industry a difficult operating environment will continue at the end of next year, the company recently sold five old vessels.

Return