Second-quarter earnings season has been the time when public companies revealed buys of middle-aged capesize tonnage.
But there was a catch. The purchases did not come from public bulker owners, but from two leading owners of container ships: Greek tonnage providers Danaos and Costamare.
With this earnings season a pretty lacklustre affair for operators in both dry bulk and boxships — tankers have been more interesting, as reported in detail last week — we thought the trend deserved a closer look in our two-part review of financial reporting.
