Bulk Freight Rates Drive Surge in Scrapping and Layup
Faced by disastrous freight rates in the spot market, bulker fleets look to trim older tonnage.
More evidence, if any is needed, that shipowners face a difficult business environment, which will not get much better anytime soon. The survivors, I believe, will be the ones that find the right balance of scrapping older inefficient tonnage, strategic investment in more efficient new ships and reducing operating costs through more efficient fleet operations.
These are the subjects that will provide the focus of discussion at the 2012 ShippingInsight Fleet Optimization Conference, to be held in Stamford, Connecticut, October 8-10. I encourage you to register now at ShippingInsight.com, and take advantage of early-bird discounts.