Bimco: Dry cargo flow stronger than expected

The dry bulk market is suffering from overcapacity this year. While the expected number of additional ships has entered the market, the flow with which the ships has left the shipyards and entered the market, is a lot stronger than expected, Bimco states in an analysis of the dry bulk market.

This year, the dry bulk fleet has grown by 8.8 percent corresponding to a total delivery of 964 new dry bulk vessels. This development has not taken Bimco by surprise in itself but the manner of the growth has, the company states in it latest dry bulk market outlook.

“While our projections for the fleet growth in percentage have remained somewhat steady most of the year, the flows in and out have been much stronger than foreseen at the start of the year. The hectic delivery pace has surpassed the astonishing level of 10 million DWT a month several times, whilst demolition activity has breached the 3 million DWT a month level numerous times too”, Bimco writes.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk rejects shippers' complaint in USD 180m dispute

U Shippers has no case in a contractual dispute reported to the US Federal Maritime Commission, Maersk writes in a response to the FMC. Moreover, the case should not even be a matter for the commission, the company says.

Related articles

Latest news

See all jobs