The shipping arm of Compagnie Maritime Belge (CMB) says it hasbeen forced to focus on spot contracts due to the lack of long-term prospectsand claims its exposure to the time charter market has fallen to a ten-year low.
Inthe group’s fourth-quarter earnings report it said it is “ideally placed” tocash in on a revival in freight rates but believes Bocimar and its peers will beforced to grapple with “another few depressed quarters” before they see “thefirst sighs of a healthy revival”.
“Despite a scrapping record of 34.1
