This highlights the volatility of the shipping market.
Those who had bought rickmer's fleet (of approx 10 years) will now be reaping the benefits after a 2 years wait. The price they paid is now 1.5 times the annual revenue the ships will bring. It really highlights the shippers need financial muscles to wait out a storm in any shipping segment
Thanks for sharing.
Findings are the same from what I had gathered.
PSA Pasir Panjang terminal 5 is extremely busy right now.
And there has been slight delays due to volume which has not happened for years.
If it holds together, this bull will be strong and swift and bring valuations higher to reflect higher earnings growth and the better state of the economy. O&G and shipping can once again see the light of day. Fingers crossed, i can smell it in the air.