BIMCO’s Chief Shipping Analyst, Peter Sand, will be speaking at the Dry Cargo Conference taking place on 1-2 June 2017 at the RAI Exhibition and Convention Centre in Amsterdam, The Netherlands. Discounts for BIMCO members available.
This recent lift in freight rates is certainly positive, but there is still work to be done on the supply side. A significant level of demolition activity must be maintained, and increasing focus must also be on keeping slow steaming around. Estimating a return to profitability in the dry bulk industry remains a moving target, and one that differs from one company to the next. But by projecting a course for profitability, everyone in the industry can use it as a reference.
The dry bulk fleet exceeded 800 mill DWT in January 2017, as the dry bulk fleet grew by 2.6% year on year.
BIMCO’s Chief Shipping Analyst Peter Sand expects the dry bulk fleet to grow 1.6% for the full year in 2017, if the projected demolition activity of 19 mill DWT is realised.
The declining growth rate from the panamax, supramax and handysize segments was absorbed by a growing capesize fleet; the total fleet growth was stable in 2016.