Scrapping in drybulk shipping may outpace last year's tonnage by a nautical mile if the sector's woes continue, according to Safe Bulkers' Polys Hajioannou.
"This year we could be surprised by the number of scrapping that we will see," the chief executive said earlier today during a fourth-quarter earnings call.
"If this low-freight market persists for two, three months or four months, many people with older ships will consider all options."
