Bharat Sheth says global upheaval makes forecasting 'a waste of time'

Bharat Sheth has finally given up trying to predict vessel demand at the age of 72, the Indian shipowner said.

The managing director of tanker and bulker company Great Eastern Shipping told analysts on a conference call that forecasting is "futile".

"Demand is impossible to predict," he said. "We ourselves have recognised the futility of trying to predict what's going to happen.