{"id":5413,"date":"2012-09-22T00:00:00","date_gmt":"2012-09-22T00:00:00","guid":{"rendered":"https:\/\/splash247.com\/?p=50"},"modified":"2012-09-22T00:00:00","modified_gmt":"2012-09-22T00:00:00","slug":"cash-rich-masterbulk-scouring-the-markets-2","status":"publish","type":"post","link":"https:\/\/splash247.com\/cash-rich-masterbulk-scouring-the-markets-2\/","title":{"rendered":"Cash-rich Masterbulk scouring the markets"},"content":{"rendered":"<p>\n\t&nbsp;<\/p>\n<div>\n\tSingapore: One of bulk shipping&rsquo;s more conservative players has a strong balance sheet and is ready to take advantage of cheap prices both for newbuilds and second hand ships. In a rare interview Stephen Fordham, executive chairman of Masterbulk, stressed, &ldquo;We will invest, however, only when we think the time is right.&rdquo;<\/div>\n<div>\n\tMasterbulk, which is part of the Westfal-Larsen group, avoided ordering ships at the height of the newbuild market and sits on a current fleet of 23 owned open-hatch vessels with no ships on order.&nbsp;<\/div>\n<div>\n\tThe company has recently established new trades in the Pacific between British Columbia\/US West Coast and Asia as well as between Brazil and Asia, the latter of which Fordham described as &ldquo;a tradelane of increasing importance for wood pulp exports&rdquo;, which remains the company&rsquo;s largest commodity cargo. He said the growth of biofuel as a renewable substitute for coal presents increasing opportunities to broaden Masterbulk&rsquo;s cargo base.<\/div>\n<div>\n\tOn the markets, Fordham is not optimistic. &ldquo;I think that we may well be in the midst of a significant structural shift in our shipping markets,&rdquo; he said, adding, &ldquo;Times will continue to be tough for everyone, and fatal for those who have overextended.&rdquo;<\/div>\n<div>\n\tHe concluded: &ldquo;When also having to factor in the tonnage overcapacity, I would not want to predict when the dry bulk markets will recover to sustainable levels, but fear that it may be some years ahead of us.&rdquo; &nbsp;[21\/09\/12]<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Singapore: One of bulk shipping&rsquo;s more conservative players has a strong balance sheet and is ready to take advantage of cheap prices both for newbuilds and second hand ships. In a rare interview Stephen Fordham, executive chairman of Masterbulk, stressed, &ldquo;We will invest, however, only when we think the time is right.&rdquo; Masterbulk, which &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ml_titleColor":"#000000","_ml_titleFont":"Roboto","_ml_titleFontSize":1.136,"_ml_titleFontWeight":"400","_ml_titleLineHeight":1.3,"_ml_metaColor":"#708090","_ml_metaFont":"Montserrat","_ml_metaFontSize":0.6785,"_ml_metaFontWeight":"400","_ml_metaLineHeight":0.92,"_ml_bodyColor":"#a9a9a9","_ml_bodyFont":"Open Sans","_ml_bodyFontSize":0.85,"_ml_bodyFontWeight":"400","_ml_bodyLineHeight":1.2,"_ml_wooPriceColor":"#666","_ml_wooPriceFont":"Open Sans","_ml_wooPriceFontSize":0.9,"_ml_wooPriceFontWeight":"400","_ml_wooPriceLineHeight":1.27,"_ml_headingColor":"#000","_ml_headingFont":"Merriweather","_ml_headingFontSize":2.02,"_ml_headingFontWeight":"700","_ml_headingLineHeight":1.47,"_mlglobal_userfontcolors":{"headingColorUser":[],"titleColorUser":[],"metaColorUser":[],"bodyColorUser":[],"wooPriceColorUser":[]},"_uag_custom_page_level_css":"","footnotes":""},"categories":[80],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cash-rich Masterbulk scouring the markets - Splash247<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/splash247.com\/cash-rich-masterbulk-scouring-the-markets-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cash-rich Masterbulk scouring the markets - Splash247\" \/>\n<meta property=\"og:description\" content=\"&nbsp; Singapore: One of bulk shipping&rsquo;s more conservative players has a strong balance sheet and is ready to take advantage of cheap prices both for newbuilds and second hand ships. 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