Both shipowners and shipbrokers are suffering together.

Loss making fixtures causing shipbrokers to work for a discount in a dry bulk market where both shipowners and shipbrokers would be suffering together. In current depressing market, shipbrokers are still providing the same services and information as in a peak dry bulk market. Shipbrokers comment “fixture below operating expenses is better than no coverage at all”. The discounting for shipbrokers services from 1.25% to 1% is said to be particularly widespread in the Far East. Big players, including Chinese State Owned Enterprises prefer not to use shipbroker services and deal directly with charterers.