Ships tied side by side off the coast of Greece or clustered in the waters of Brunei Bay create iconic images of the distress facing the dry cargo market.
The good news for photographers capturing the moment is that more owners are preparing to take vessels out of the market while they wait for better times. For shipowners, the concern is that such efforts, coupled with simultaneous record scrapping, have yet to make any difference to rates and, according to experts, it is likely to take years rather than months for a recovery to take shape.
Establishing
