Moron gnk is bankrupt. Sb safe bulkers will be the last man standing.
of course it's not. BDI rates are international. The drop has absolutely nothing to do with currencies.
The drop has nothing to do with currencies but only with the survivability of the Company.The freight market is currently below the cash break even level of the Company. So the question is how long will freight stay this low and if the cash will prove to have enough cash to ride the low market.My guess is that they will struggle and this will start showing on every quarterly earnings release.The way to protect is to raise equity and maybe sell ships but that would mean that they will have to pay cash to the banks as the value of the ships is lower than their respective debt.