Drewry: Half of the older Capesize ships must go
The overcapacity in the dry bulk fleet - the root of the severe crisis in the industry - could be gone within a few years if carriers were willing to pull vessels out of the market. Half of the global fleet of Capesize vessels over 12 years old must go, says Drewry.
BY TOMAS KRISTIANSEN
After the first ominous signs from the dry bulk industry in 2016 of impairments and expectations of great losses in 2015, UK-based Drewry has projected how much tonnage needs to be removed from the market in order to recreate a profitable balance.
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