World maritime transport industry in crisis
According to forecasts of Clarkson Research international group, 2016 will be the second consecutive year of iron ore and coal shipping reduction. Clarkson analysts have been monitoring the statistics since 1990 and say that they have never had two-year reduction since then. The number of ships is growing but the amount of cargo is declining. Thus, cargo ships’ rental prices have fallen dramatically. On average, owners of large Capesize class vessels are losing $14,000 per day.