Japan's Kumiai Senpaku has made its intention to quit the dry bulk business known, but the rise in the value of bulkers has not tempted the owner to offload its fleet.
Rather, it has rechartered out one of its capesizes for five years after its previous contract expired.
President Nobutaka Mukae told TradeWinds that operators' calls for rate reductions and a switch to short-term vessel fixes — of two to three years as opposed to 10 years-plus — were key reasons why the company had been considering a dry exit.
