Globus Maritime: Market Recovery Will Continue To Invest In Bulk Carriers

- Apr 18, 2018-


The Greek shipping company Globus Maritime recently announced that it hopes to further optimize the fleet and seize the opportunity brought by the market recovery to achieve a new round of growth.LR Elbow


Athanasios Feidakis, president and CEO of Globus Maritime, said that the fundamentals of the bulk market have rebounded in the past year and it is expected that this trend will continue in the coming year.


Feidakis said that it is expected that the freight rate may continue to rise. The company believes that the market will continue its long-term recovery. He estimated that the increase in demand for transportation of coal, grain and iron ore, as well as the record-setting position of orders and the deceleration of fleet growth, will provide very positive arguments for the company to re-invest in the bulk transport industry. Weld neck flange


The company expects to benefit from this upward trend in the second quarter, and expects that market fundamentals will strengthen and promote the increase in average freight rates and ship prices. The company is optimistic that this is only the beginning of the long-term recovery of the bulk shipping industry.


According to Feidakis, Globus Maritime added 60% of its voyage revenue in the third quarter of last year, which was mainly due to the increase in average time charter prices.Slip on Flange


When talking about the development of the fleet, Feidakis believes that the super-smart bulk carrier, the Panamax bulk carrier and the Camsar bulk carrier will become the company's investment-first choice. For this company, we should avoid investing in Capesize bulk carriers. Although this type of ship has great potential, it has been hit hard under the bad market conditions and seems to have become the riskiest asset in the bulk shipping industry. The Handy Bulk Carrier has the lowest risk, but it will not face huge freight fluctuations, which may mean that freight rates will improve in the future market. The current practice of Globus Maritime is to update and modernize the fleet's capacity before considering the next expansion of the fleet. The company will focus on adopting more modern ships to replace old age capacity and adopt a low-risk plan to expand the fleet as the market allows.


It is understood that Globus Maritime currently operates four super-conscious bulk carriers and one Panamax bulk carrier. As the market's rising potential rises, the shipping industry will once again become attractive to investors, and the shipping industry's funding gap will gradually increase.SR elbow