Jens Ismar, ceo of Norway’s Western Bulk Chartering, foresees a healthier year coming up for dry bulk, one where “many owners could be out of the bankers’ control 12 months from now”.
In an update today, the bulk veteran said: “Let us use the New Year’s celebration to put the worst dry bulk year in 30 years behind us and drink to a better 2017. Everything being normal we should have a better market ahead, although we do not foresee a big party any time soon.”
Western Bulk Chartering has had its fair share of financial mayhem during the bulk depression. It made a $7.4m loss in its latest quarterly results.
After a downturn in the first quarter, Ismar sees a return to a more normal trading environment.
The wildcards lying in the way as obstacles, as far as Ismar is concerned, are Chinese coal, newbuilding deliveries and scrapping.
“If these fall into the right place the industry may be more healthy and many owners could be out of the bankers’ control 12 months from now,” Ismar concluded.