In theNasdaq-listed owner’s earnings report George Economou admitted that charterrates for large bulkers “underperformed” during the period but was quick topoint out that forward levels and asset values “are holding up resiliently”.
“The charterrates earned by our tankers during the first quarter of 2014 were above cashbreakeven levels, and contributed to our free cash balances,” the executivecontinued.
“Following aperiod of oversupply the recent volatility in the tanker and drybulk sectors isa clear sign of a more balanced supply and demand.
