Pacific Basin Avoiding Arabian Sea on Mideast Crisis

Martin Fruergaard, CEO dry bulk ship owner and operator Pacific Basin, says the Hong Kong-listed firms have stopped committing to additional voyages into the Arabian gulf on security concerns, despite having tried to evaluate going through the Red Sea again. He added that industry peers are also doing the same even though just 2 percent of dry cargo volume goes through those waters. He also gives his outlook for freight prices in an interview with Yvonne Man and David Ingles on “Bloomberg: The China Show.”