Dry bulk shipping to improve
The dry bulk shipping industry remains on the road to recovery, as demand continues to keep its nose just ahead of fleet growth, while scrapping and ordering remains subdued, according to BIMCO. Says Mr Peter Sand, Chief Shipping Analyst, "The improved fundamentals during 2017 are clearly seen in the freight rate levels during the first four months of 2018. Freight rates for Handysize, Supramax and Panamax went up by 25-27 per cent as compared to the same period of last year. All three sectors moved from loss-making average earnings in the full year of 2017 to a profitable level in first four months of 2018." However, "Capesize freight rates improved by only 5 per cent as compared to the same period last year."