Bulk carrier owners will likely be forced to dip into their cash reserves this year because the upturn that had been expected in the second quarter could be delayed, according to new analysis.
"Based on spot averages thus far in 2020 and the outlook given prevailing time charter rates and FFAs [forward freight agreements], we see dry bulk companies facing a cash burn during the year," Clarksons Platou Securities said in a research note on Monday.
