Norway: Investments in bulk carriers booming


Norway: Investments in bulk carriers booming
Finansavisen, 20 Oct 2017, p.18:-
So far in 2017, Norwegian shipping companies have invested USD 729mn (EUR 610.12mn) in purchases of 36 bulk carriers, according to online site Kristian Sørensen, head of shipbroker Fearnleys, says the market has begun recovering after hitting rock bottom in the former part of 2016. However, the market is far from the levels in 2010-2014 and even further from the booming years 2006-2009. Kristian Sørensen expects freight rates and ship values will continue increasing, not least since the global economy is showing good growth rate.
The companies that have made the biggest investments are Songa Bulk, owned by Atle Blystad, and Golden Ocean Group, owned by John Fredriksen.