Dry bulk owners told to curtail ordering

DRY BULK shipowners must act more responsibly and stop following the herd mentality of ordering newbuildings if the sector is to stand any chance of tackling its chronic oversupply, Pacific Carriers managing director Kuok Khoon Kuan said.

The rush of ordering that saw18.9m dwt contracted in the first half of the year must come to an end and owners must be actively encouraged to sell tonnage for demolition if they are serious about rebalancing the dry bulk...

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