Are you afraid of over-supply? It is true that the massive orderbook created during the recent shipping boom in dry bulk market has puzzled many market participants. Take a look at the following chart showing the estimate supply of vessels during 2009 and 2010. We have an impressive supply growth far from peak demand growth especially due to global economic crisis. This unfortunately will put freight rates under more pressure and lead as many people believe to massive orderbook cancellations. According to a recent report on the dry bulk market from Citigroup Research, we have to wait about 40% to 50% order cancellations and delays. But can only cancellations save market?
Just for your info find below the fixture list (11/09/2009):
BDI 2468
BCI 3539
BPI 2550
BSI 1917
BHSI 916