Greater China

Fenwick boss outlines tough handysize market

Hong Kong: Rates for handysizes are “horrible”, a niche Hong Kong shipowner told our sister site, Maritime CEO. The sector is likely to go through its most painful year now as urgent scrapping will have to take place to get the small bulker segment back on its feet.
Oeistein Harmens Thorsen is a director and co-founder of Fenwick Shipping Services, an owner of six small handysize ships.
“There is too much supply of tonnage and too little scrapping,” he said. Thorsen reckoned handysizes actually need a bad market for a while to get rid of all the overtonnage.
For the full interview, click here. [16/06/14]

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