Angelicoussis: Dry bulk sector will benefit greatly if Trump keeps pledges

Angelicoussis

Greek shipowner John Angelicoussis forecast a rebound in the dry bulk sector, calling it an “engine” for the global economy because, as he estimates, major countries will increasingly turn to large infrastructure projects.

The leader of the Angelicoussis group, one of the biggest shipping groups in the world, had positive words for US President-elect Donald Trump.

“If one believes the new president, he is going to be very friendly to the dry cargo vessels. He needs a lot of imports to correct infrastructure problems of this country,” he said.

Angelicoussis’ comments came during an interview in New York City on Wednesday with Poten & Partners chairman Michael Tusiani.

According to a Tradewinds dispatch from the event, Angelicoussis cited opportunities across the board in the shipping sector (gas, dry bulk and tankers), while expressing a preference for very large crude carriers (VLCCs), which he said are easier to operate and provide good value-per-mile.

He also touched on LNG carriers, where his group is a force to be reckoned with, pointing to opportunities in the sub-sector because such massive vessels cater to a “more environmentally friendly industry, have higher barriers to entry and attract higher-quality charterers.”

“It is an area where, because of the price, it is difficult for too many people to break in,” he added.

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