Dry bulk ship­ping to im­prove

Maritime Gateway - - Brief News -

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."

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