The shipping industry is going to face a "crisis" year in 2012, warns Andrew Broomhead, CFO of...

|By:, SA News Editor

The shipping industry is going to face a "crisis" year in 2012, warns Andrew Broomhead, CFO of Hong Kong's largest operator of dry-bulk vessels Pacific Basin. The industry must grapple with a lack of funding, an oversupply of ships and freight rates so poor that the Baltic Dry Index is already -56% YTD.