The bulk sector is navigating its way out of the doldrums but market correction has come at a price, delegates attending Bulk Terminals 2018 learned recently.Speaking in Hamburg at the annual conference of the Association of Bulk Terminal Operators, Frachtcontor Director Frank Grone said that while the bulk segment is slowly but steadily working its way out of the doldrums with a positive cash flow, he reminded delegates that 60mdwt was scrapped in 2015 and 2016 at "ridiculous prices", while financing banks took serious "haircuts" leaving bulk carrier owners faced with a complete wipe out of their invested capital.
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