Golden Ocean Sees 10% Growth Reuters- Dry bulk carrier Golden - TopicsExpress

Golden Ocean Sees 10% Growth Reuters- Dry bulk carrier Golden Ocean Group Ltd expects double-digit growth in global iron ore trade in 2014, helping its markets pick up momentum and improving rates, the companys CEO Herman Billung said at a conference in Oslo on Wednesday. Billung said he had had recent discussions in Singapore with major iron ore miners and one alone had indicated its shipping needs would rise to 100 cape-sized vessels, or ships that can carry some 160,000 tonnes of cargo, a month from 70 during the next 18 months. You can see it from what they are doing right now. They charter in vessels with a massive premium to the spot market, he said. I think we definitely could see iron ore increasing by 10 percent in 2014. Coal I think will be a little bit less, around 6 to 7 percent. Reported MarinLink

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