Berglund: 'Let rates come to us this time'

Mats Berglund has called for bulker owners to stay out of the shipyards and let the dry cargo market recovery unfold.

Berglund, chief executive of Pacific Basin Shipping, believes the worst of the downturn has passed but stresses the market needs neither new ships, nor new companies.

“Let freight rates come to us this time, please, and don’t destroy our own market by going out and ordering new ships,” he said in an interview today.