Golden Ocean projects increased scrapping of capesizes

The number of capesize vessels scrapped in the first quarter is already about surpass the full year 2019. Golden Ocean expects that more will be scrapped this year. However, an improvement in rates is expected to slow the scope of scrapping, according to Bimco.

Ulrik Andersen is the new CEO of John Fredriksen's dry bulk ship operator Golden Ocean. | Photo: Avance Gas

A large number of dry bulk ships will be scrapped this year, as the shipping companies have already scrapped far more ships in the first months of the year.

In the first four months of 2020, 22 capesize ships were removed from the market. This is just seven less than in the full year 2019, wrote major dry bulk ship operator Golden Ocean in its interim report, published Wednesday last week.

Read the whole article

Get 14 days free access.
No credit card required.

  • 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

OECD downgrades growth forecast for global economy

The global economy is still growing, though it's losing momentum, according to the latest growth estimate of the OECD's Economic Outlook. Bottlenecks in the shipping sector and elsewhere as well as pressure on supply chains have contributed to rising inflation.

Further reading

Related articles

Latest news

See all jobs