2009: A puzzle for most analysts of the dry bulk market

Last year proved to be a year of broken records, both positive and negative.

With the freight market becoming increasingly volatile and highly unpredictable, one thing’s certain: “prophets” shouldn’t be taken too seriously. Supposedly, in a couple of months from today the market would begin its correction, thanks to a flurry of modern tonnage being delivered by shipyards. Instead, yards are fighting with customers reluctant to take delivery of their vessels, or even looking a way to get out of their contract, even if it was signed 12-18 months ago.

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