Industry insiders may be divided on when the markets will recover but many agree the downturn can be exploited by shipowners that have resources to pursue expansion.
Michael Bodouroglou says affordable second-hand tonnage is ripe for the picking but believes transactions are tough for some to seal for the same reason asset prices are hovering at historic lows.
In an exclusive interview, the CEO of bulker operator Paragon Shipping told TradeWinds the sale-and-purchase arena is teaming with owners that are looking to offload ships in response to pressure from lenders and perpetually low freight rates, which have taken a toll on cash reserves.
“There
