67 capesizes could be without work two years from now

More new ships and less scrapping combined are now creating the scenario in which dry bulk carriers would least like to find themselves. The influx of new, large valemaxes could make 67 capesize vessels unemployed within 24 months.

Photo: PR-foto

The dry bulk market has developed positive throughout 2017 and into 2018, though this has not been obviously apparent in the financial reports from the major dry bulk shipping operators. For this to be clearly reflected in the companies' finances, the balance between new ships and the number of ships being scrapped needs to remain reasonable.

But a new survey performed by Bimco concludes that the relative recovery seen in the market could be very short-lived.

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