Is dry bulk at another false dawn or does the much maligned sector finally have some legs? That was the question posed by moderator Tim Huxley from Mandarin Shipping to kick off the dry bulk panel at this month’s Maritime CEO Forum in Singapore.
Watch the latest installment of Splash TV below as top names debate the market prospects for dry bulk for the coming two years.
Fiete Kallenberg, head of capes in Asia Pacific for Cargill Ocean Transportation, predicted a sustained recovery with capes having reached a “very good base” of $30,000. A growth of less than 1% for 2018 and 2019 for capes was “next to nothing”, Kallenberg told delegates, while demand remains very robust citing long ton mile lanes from Brazil and West Africa to Asia.
Also on the panel was Michael Nagler, head of chartering at Noble Group, Rob Aarvold, general manager of Swire Bulk, and Khalid Hashim, the managing director of Thailand’s Precious Shipping.
Maritime CEO Forum was sponsored by Cobham, Compas, Dualog, DVB Bank, Liberian Registry, Marlink, OSM Group, ShipServ, Veritas Petroleum Services and Wartsila. The next forum takes place in Hong Kong on October 2.
Stay tuned as Splash TV heads to Athens for Posidonia in June.