Big bulkers unsafe

Article Abstract:

The IACS has accepted a wide ranging package of measures and initiatives to increase safety levels in the bulk shipping industry. Lloyds' Register (LR) revealed that research shows that present bulk carrier designs can no longer be considered safe. LR's principal ship surveyor Chris Woods said that the entire ship structure should be considered when evaluating cargo ship safety, in contrast to the present practice of focusing primarily on the hull.

Safety and security measures

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Bulkers hit black hole

Article Abstract:

The bulk cargo shipping industry is in a slump following a period of growth that averaged 4.8% from 1992 to 1997. The mood in the industry due to the slowdown ranges from depressed to pessimistic. Freight rates are low and this has forced some bulk carriers to accept cargo at prices lower than prevailing rates to defray costs. Some observers believe the slump will compromise the quality of services offered by the industry while others point out increasing consolidation because of the economic slowdown.

Economic aspects, Prices and rates, Freight, Depressions, Economic depressions

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