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Golden Ocean Group Reports First Quarter Net Loss of $160.8 Million, as Dry Bulk Market Collapses.
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to work in China is not enough to support the market.
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value!
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index.