John Wobensmith has warned dry cargo shipowners to learn the lessons of the industry depression as the market looks to a recovery.
Genco Shipping & Trading chief executive Wobensmith believes restraint on both dividend and debt levels is needed.
New York-listed Genco went through Chapter 11 restructuring and is now on offence with a strong balance sheet.
“I think it’s a very good lesson on how these companies should be structured going forward,” he said at the Nordea Markets forum in London today.
