In a survey conducted in February and March amongst shipping companies in DNV’s client base, we asked: “What are the main challenges in today’s difficult market situation?”
The response was uniform – the top three challenges are, in order of priority:
1) loss of revenue, 2) lack of financing and 3) a too high cost base. The main topics of this issue of DNV Bulk Carrier Update address two out of these three challenges. The Market Outlook section by market analyst Jarle Hammer draws lines all the way back to 1970 in an attempt to predict what may happen to the freight rates in the coming years.
The articles on operational aspects and how to control docking costs, as well as the ones covering procedures and guidelines for lay-up and scrapping, all address how a shipping company may control its cost base while maintaining safe and sustainable operations.
After a very exciting time from the end of 2007 and up to present date as DNV’s Business Director for Bulk Carriers, I want to personally thank all my DNV colleagues and all DNV customers for making us the fastest growing class society for bulk carriers! Although I will take up the position as Technical Director of DNV Business Assurance in March this year, I am confident that my successor, Michael Aasland, will work hard to ensure that you all experience that your choice of DNV as your partner is the right one. I can assure you that DNV will maintain its strong focus on quality and safety, both for those vessels that are in operation and for those vessels which are going to be built over the next few years. We are very grateful for the trust you have shown in us over the past years.
Happy reading!