CMB may be a diversified group but the core dry bulk shipping unit, Bocimar, is under intense market pressure with freight rates at, or near, all-time lows.
“It’s become a cash game now. How much cash do you have on your table that you can burn,” said Alexander Saverys, who took over as chief executive late last year.
In an interview with TradeWinds’ quarterly magazine TW+, he said CMB has the strength to emerge from the currently depressed markets and make the most of better conditions.
