French shipowner Louis-Dreyfus Armateurs (LDA) is exiting the capesize bulker spot market.
The company's boss Edouard Louis-Dreyfus told Les Echos that the sector was "too volatile."
He said the move was made to "de-risk" its operations with the larger vessels.
"It is a profession that shipowners no longer control, it is controlled by mining groups," he added.
