Too Many Boats for Too Little Cargo Leaves Shippers High and DryBy
Hundreds of ships must be broken up, Clarksons Platou says
Shares plunge along with ship prices, revenue and earnings
Shippers of commodities are in the midst of an unprecedented crisis as waning Chinese growth and a surge in supply push earnings to new lows. These charts show how it happened, how commodity shipping is collapsing and how there’s one glimmer of hope for owners to turn things around.
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