The Business Times
business-time-50
SUBSCRIBERS

Shipping-steel relationship turns toxic

Shipping companies, steelmakers need to cut capacity, and fast. But the chances of that happening look slim

google-preferred-sourceAdd BT as a preferred source
Published Mon, Feb 22, 2016 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Frankfurt

    THE global steel and shipping industries have for years been locked in a tight embrace. Iron ore and coal, key raw materials for making steel, are among dry bulk shipping companies' most important cargoes.

    Now, an oversupply of both ships and steel has turned that relationship toxic. Both industries need to eradicate overcapacity quickly - or risk repercussions far beyond their respective shareholders, bondholders and lenders.

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    Lim's pay package includes about S$3.6 million as salary and around S$3.9 million as bonus, indicates the company's annual report.

    Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025

    Eu Yan Sang group chairman Richard Eu has been with the company since 1989 and has seen plenty of change over the years, such as how employees view their jobs.

    Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant

    Capital City Mall is expected to benefit from increased visitor traffic once the Johor Bahru-Singapore Rapid Transit System commences operations at the end of 2026.

    Mustafa Centre begins fit-out at JB’s Capital City Mall after 2-year delay

    (From left) Tran Thanh Man has been re-elected as chairman of the National Assembly; To Lam has been elected state president; Le Minh Hung has been appointed prime minister; Tran Cam Tu is the standing member of the Party’s Secretariat.

    Vietnam formalises new state leadership, redefining ‘four pillars’ power balance

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More