First 4 months of 2012 shows 24.2 million DWT of dry bulk carriers entering the greek fleet

By Finance

The arrival of new built dry bulk ships was bigger than expected in January - April interval of 2012. 24.2 million DWT were added to the fleet. This is close to a level that is only beaten by the deliveries during Q1-2011 where 24.4 million were delivered analysis show.
On the opposite side, things have calmed down very significant. Since the start of 2011, new building orders have been fewer and fewer. For 7 months, the monthly level of new orders has not surmount 1.8 million DWT. In comparison, the monthly average of ordered tonnage during 2010 stood at 8.1 million DWT. The remaining order book stays biased towards the larger ships sizes, with the order book to active fleet ratios being the highest for Panamax (60,000-100,000 DWT) at 40.8% with the Capesize segment being runners-up at 32.2%. The ratios for Handysize and Handymax: 25.4% and 26.8%” shows research.
Regarding freight rates, it it is registered that Capesize Time Charter Average will still be under pressure but boost from current very low levels, although it will not exceed $12,000 per day. For the smaller segments, it is predicted that the Panamax and Supramax freight rates are likely to get closer to each other and boost, but remain in the $8,000-13,000 per day delay. Handysize rates should elevate and head up, staying in the interval of $8 000 - $11 000 per day interval.
When pursuing the recent development in freight rates it is clear that the Jan. is a good month. Now, Capesize rates are still trapped in the shadows of $5,000 per day. The Capesize ships that used to dominate the development of freight rates have lost the position they had. For long periods during 2011 – and again in 2012 – rates were quite below any other vessel size.