It was also a year of highs and lows. Very large gas carrier (VLGC) rates set new records, crude tankers showed signs of recovering from the troubles that have plagued them in past years and the dry cargo market flirted with recovery hopes before crashing and burning in the fourth quarter.
Contrasting fortunes also beset leading shipowners. Peter Georgiopoulos, after an early hiccup, made some characteristically meaty tanker investments, while Nobu Su had his troubles laid bare in courtrooms on both sides of the Atlantic.
