A New York City-based company that transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes.
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Same as last year the market anticipates a bottom in the BDI just because rates have a slight reprieve.
But charter rates are still well below break even and there are another 1600 more ships to be delivered over the next two years.
GNK is still losing money, no recovery in sight.