SETTING A NEW COURSE IN CHALLENGING TIMES

摘要

The global economic recession has rippled through the entire shipping industry, creating unprecedented challenges. Just one year ago (April 27), for example a Very Large Crude Carrier from the Arabian Gulf to the Far East was fixed at $120,161 per day. Now substantially lower crude oil demand and lower petroleum prices have painted a drastically different picture. That same VLCC will command a rate of $ 17,434/day-a whopping 85% drop. The dry bulk sector looks even worse. One year ago, a Capesize bulker would receive a fixture of $162,556/day. Today, that same ship has slipped to $22,859/day.