Fearnley: Bulk asset values to remain under pressure

Rates for the biggest dry bulk vessels declined an average of 42 percent in the past year, notes Fearnley in an analysis, adding that Scorpio Bulkers' divestments over Christmas signal further pressure on asset values.

Photo: Rotterdam Havn

Massive declines characterized the dry bulk sector in 2015, with the biggest vessels, the Capesizes, finishing the year with an average decline of 42 percent against 2014, according to a survey performed by analysts Fearnley. Capesize rates finished at USD 6,965, with 2015 on average clocking in at USD 8,100 per day compared to USD 13,900 in 2014.

Panamax dropped 28 percent, while the average daily rate for Supramax vessels decreased 29 percent from 2014.

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