Slowing scrapping poses threat to dry bulker earnings, warns Precious Shipping
Only 2.8m dwt of capacity was scrapped in the first half, compared to 8.7m dwt during the same period of year. Precious says the sharp fall in scrapping has fuelled negative sentiment in the markets
Second-quarter profit of $2.85m was a major improvement on the net loss of $150,000 booked a year earlier, although it was down on the $3.4m net profit booked in the first quarter
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