Precious Shipping managing director Khalid Hashim says the solution to the bulker sector's current slump is very simple.
Vessel supply needs to be cut through recycling - and owners need to refrain from ordering new vessels, he said.
"The solution has been ever-present but shipowners are their own worst enemies and their refusal to get on with recycling has led us to the current situation where the demand side of the market is no longer able to absorb all the ships that haven't been recycled," Hashim added.
