Hellenic Shipping News interviews Mr. Michael Bodouroglou, Chairman and CEO of Paragon Shipping
Overcapacity is destined to weigh down in the Baltic Dry Index and consequently freights rates that dry bulk carriers receive for transporting commodities like iron ore and coal. According to Mr. Michael Bodouroglou, Chairman and CEO of NY-listed dry bulk shipping company Paragon Shipping, things will get worse before they get better. He said in an interview with Hellenic Shipping News that the imbalance between supply and demand will worsen over the next 18 months, unless some “dramatic rise in new order cancellations” occurs. Based on Paragon’s estimates 38% of ...
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