The Pacific market for capesizes is “on fire”, according to John Michael Radziwill. Speaking at last week’s Maritime CEO Forum in Hong Kong, the GoodBulk boss was on typically bullish form, telling the exclusive shipowner gathering that the Q4 rally is well underway.
“A lot of ships have left the Pacific and the Pacific market’s on fire and the Atlantic market should come up pretty soon too because all the iron ore majors have a lot to do before the end of the year and there’s going to be a lot of coal moving from the US East Coast to India too, so we’re very positive,” Radziwill told the VIP list of owners attending the forum.
Radziwill was part of a high calibre panel of owners speaking during the forum’s dry bulk panel, moderated by Mandarin Shipping’s Tim Huxley. Other panellists included Mats Berglund from Pacific Basin, Vikrant Bhatia from KC Maritime and TCC Group’s Kenneth Koo, the latter of whom dampened the earlier bullish note from Radziwill. Koo questioned the sustainability of any cape run, arguing that time frames for cape cycles are much shorter nowadays.
To watch Radziwill and Koo debate the cape markets check out the video below.
The Maritime CEO Forum in Hong Kong was sponsored by Anglo-Eastern, Cobham, Compas, Dualog, DVB, Liberian Registry, Marlink and Transas. The next edition of the forum will be in Singapore in April 2019.