Shipping markets need to hurt longer because there is still plenty of room to weed out bad or weak market players, said Guy Campbell, chairman of the Baltic Exchange.
“We welcome destruction in this market... we need more destruction to flush out the bad counterparties, to flush out the overcapacity,” Campbell told the TradeWinds Shipowners Forum in Athens.
Campbell said he was making these statements as head of China Navigation’s London drybulk operation.
“I’m
