Thought Provoking Something's got to give

摘要

Due to the imbalance of supply and demand, the prolonged downturn has brought tremendous pressure on both ship owners and ship managers alike. This, in turn, has led to owners switching into survival mode, with managers grappling to live with management fees that, put frankly, have changed little over the past 20 years, despite more and more demands being placed upon them Likewise, vendors are being squeezed to the point that they are indeed fortunate to be paid within 120 days, many having heavily discounted their product to secure business in the first place. All-in-all, a cocktail that does not auger well for our industry and, unless addressed, somethings got to give.