“But it’s like the snake that ate the goat - it’s going to take a while to digest; a while to get through this.”
Peter Georgiopoulos produces a striking image to illustrate shipping’s over-tonnaging problem.
“I’m not saying there isn’t mismanagement in the industry. But there’s a big difference between mismanagement and the market going down 99%.”
Georgiopoulos again, saying that sometimes there’s just nothing even the best-run companies can do in shocking markets.
