<p>Dire charter rates are going to bring down some of the “big players” in the dry bulk shipping industry, according to Compagnie Maritime Belge director Ludwig Criel, <em>writes Michelle Wiese Bockmann</em> .</p> <p>The Antwerp-based owner owns 16 capesize bulk carriers via its dry bulk arm, Bocimar.</p> <p>Mr Criel also called for banks to exit the shipping market, singling out Merrill Lynch and Morgan Stanley.</p> <p>Both operate and hire ships in addition to their positions in the paper market where they are active traders in dry bulk forward freight agreements.</p> <p>“All those who come and play in our market, certain banks like the Merrill Lynches and Morgan Stanleys of this world all these and others, I say: let the banks bank, and let the shipowners ship goods from point A to point B," Mr Criel said.</p> <p>"Let’s get back to basics and let all these guys go.”</p> <p>Mr Criel said many large and established owners would be hit by the fall in spot rates.</p> <p>“If you have a ship [on period charter] for one year at US$100,000 per day, and ultimately you make US$20,000 per day, that is US$80,000 a day you are losing,” he said.</p> <p>“Times that by 365 days in a year and that’s US$30m if you have 10 of these ships it’s US$300m and if you have 40 of these ships that’s about US$1.2bn.</p> <p>“This goes very fast, so yes, of course big players are going to have difficulties, and I’m not talking about only the crappy ones.”</p> <br />
