Braemar Seascope has likened the travails of VLCC owners to that of the Magistrate in “Waiting for the Barbarian” by J.M. Coetzee.
The broker thinks it sums up the decision of shipowners to face up to an AG VLCC market which only offers a meagre contribution towards a ship’s running costs.
"If I resolved to ride out the bad times, keeping my own counsel, I might cease to feel like a man who, in the grip of the undertow, gives up the fight, stops swimming, and turns his face towards the open sea and death".
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