The recycling potential in dry bulk is limited
19 March 2012Recycling of overage dry bulk tonnage is unlikely to make huge impact on future fleet growth according to new analysis from BIMCO.
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Recycling of overage dry bulk tonnage is unlikely to make huge impact on future fleet growth according to new analysis from BIMCO.
It looks like 2018 will be a year that shipowners should take advantage of, as the dry bulk fleet is likely to grow at the slowest pace seen since 1999, and BIMCO sees global demand growth outstripping supply growth in 2018.
Energy transition curbs demand growth
BIMCO has issued two new standard contracts of affreightment (COA) for dry bulk cargoes – one that can be used with different voyage charter parties and another that includes all terms and provisions usually found in a COA.
BIMCO expected newbuild activity to pick up, so the recent development is not surprising. It is however not what the industries needs. As the dry bulk -, crude oil - and oil product tanker shipping sectors are all struggling with very low freight rates, it is important that the recent development in contracting activity reflects a short-term trend.
A ”W-shaped” market in the making, but spiced up with frequent congestion. Demand: Following the market meltdown in 4th quarter 2008, demand has surprised on the upside since China in February initiated ..