Abysmal is the word most Middle Eastern offshore players are using to describe their home market today, with ports in the region packed full of ships that cannot find work.
The fingers of these regional operators point firmly in the direction of Asian players that have sent a flood of ships into the Middle East in search of work.
“They have piled it high and deep, and have sent in hundreds of ships,” Whitesea Shipping chief executive Seraj Ali said.
