The gloomy outlook for the dry bulk shipping market continues and the market is not expected to return to profitability before 2017, according to the Dry Bulk Forecaster report published by global shipping consultancy Drewry.
Shipowners continue to struggle to recover their costs as commodity demand falls far short of owners’ expectations. As a result ship owners continue to downsize their vessel holdings which will enable oversupply to reduce over the next five years.
