OTCPK:PILBF - Post by User
Post by
teachon Mar 26, 2016 7:44am
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Post# 24701690
CEO Says Shipping Market Is Worst in Modern History
CEO Says Shipping Market Is Worst in Modern Historyhttps://www.bloomberg.com/news/articles/2016-03-03/golden-ocean-ceo-says-shipping-market-is-worst-in-modern-history
I"ve read several articles like this one recently. Shipping for Polaris is so expensive and they actually paid a fine to CSL last year for missing shipping minimums.
I wonder if their small size makes it harder for them to push for better terms with CSL. Another avenue for savings and margin expansion for a takeover company that I hadn't thought of.
The CEO of Golden Ocean doesn't expect things to get better for at least 2 years.
P.S. Great find on the Cemex Marina sand mining operation, Aggman. Right down the road from Polaris' facilities in San Francisco. Good timing.