Amid Glut, Where Will Dry Bulk Rates Go?

Already, a major dry-bulk shipping concern has succumbed to this month's epic collapse in the rates charged to haul raw materials around the world. That company, a South Korean freighter called Korea Line Corp., filed for receivership Tuesday and sparked concerns of a kind of domino effect. Eagle Bulk Shipping, for instance, has chartered more than a dozen ships (out of its fleet of 48) to KLC. The status of those long-term charters (six to ten years in duration) is now up in the air, though the company has called its exposure "modest."
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Source: The Street