Our industry is facing very difficult times. Charter rates have been at record low levels in all size segments during the past few months. With an oversupply of tonnage due to record deliveries and a lower than expected growth in demand, most analysts expect that we will have challenging times for at least one or two more years. However, we must not forget that there is still a steady growth on the demand side and that the order book is quickly being reduced, which in time will lead to an improved supply/demand situation.
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