DVB: Slow improvement for Panamax

Market conditions for the struggling Panamax owners are far from good. Still, benchmark bank DVB expects improvements to ship values and profits. (Correction, last chapter).

The overwhelming supply of tonnage since 2008 has taken a toll on ship values and profits for all segments in the global dry bulk fleet. But in a new analysis of the struggling owners, the big, Rotterdam-based shipping bank DVB points to a slow and gradual stabilization of ship values and profits over the next two years, due to the rising demand.

The Panamax segment in particular has suffered from the flood of tonnage after featuring as the most contracted ship type in dry bulk during the years 2009 and 2010, and unfortunately for Panamax owners the Chinese demand for iron ore and coal back then did not favor this type of ship.

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