Bimco: Dry bulk market is declining again

After some relatively positive months at the beginning of the year, the dry bulk market is now headed in the wrong direction, in terms of showing restraint on new orders and scrapping the aging fleet. The boom for large Capesize ships will not rub off on other segments.

The indicators of improvement in the market, which dry bulk carriers have been seeing in the first months of this year, are now under pressure and risk disappearing as more vessels are rapidly being delivered from yards, Bimco writes in an analysis.

It would not be a problem in itself if the industry kept scrapping vessels as it has done thus far this year. But this area is now struggling to keep up the pace.

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