HMM: For Shippers, 2012 Is a Year of Crisis: Dry Bulk Operator. “This week, Indonesia’s largest oil and gas shipping group, Berlian Laju Tanker, defaulted on its $2 billion debt, while Reuters reported Thursday that Denmark’s bulk and tanker firm Torm has asked for an extension for the repayment of its $1.87 billion debt. . . . The Baltic Dry Index, a measure of costs to ship dry-bulk commodities, has already fallen over 55 percent this year.”