Distress in the dry cargo market bubbled to the surface this week with the collapse of Danish operator Copenship, which threatens to affect at least two well-known shipowners, while rumours are circulating about others.
Copenship and subsidiary Copenship Bulkers filed for bankruptcy on Tuesday, with the Baltic Dry Index (BDI) just 23 points above the historic lows seen in 1986 and market rumours of up to 200 supramax and ultramax vessels for sale and no willing buyers.
