Athens: Greece’s Goldenport Holdings has warned dry bulk shipping is in the midst of its run since the awful days of the mid-1980s.
The company yesterday posted a loss of $27.1m for 2014, a larger loss than the $12.1m loss it reported in 2013.
“The long-awaited recovery in the dry bulk sector is unlikely to materialize in the near term as the newbuilding orderbook continues to cast a shadow over demand,” the firm’s CEO, John Dragnis said in a statement.
Dragnis expected that 2015 will be more challenging than 2014, as demand lags net fleet growth.
“We are navigating through what is arguably the worst dry bulk market of the last 30 years,” Dragnis warned.
The Greek national was more upbeat about container prospects, especially on the north-south trades.