L&S managing director Thomas Kaas Christiansen explained: “We do not see the market improving short and medium term. It is dominated by the big players. We will focus on panamax and capesizes where we have a good position in Asia.”
There are also reports that L&S is stopping a joint venture with Belgian dry cargo broker Sobelnord. Christiansen says the venture has not been a huge success economically, as its cost base is too high, especially in a poor market.
