During the Nasdaq-quoted operator’s fourth-quarter conference call George Economou pointed out that there is “ample” capacity in China since ordering has slowed.
“There will be price pressure [on the newbuilding front] although I don’t see them going down by more than 15% [over the next one or two years],” he added in response to Fotis Giannakoulis of Morgan Stanley.
Economou said he isn’t surprised that no bulker orders have been sealed since last year, a trend driven by lacklustre freight rates and grim market forecast.
The
