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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.

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