We estimate that dry bulk supply will only grow by 2-3% in 2024 and 1.5-2.5% in 2025. The dry bulk fleet is expected to grow by 2.6% in 2024 and 2.3% in 2025, the slowest it has grown since 2016. Ship deliveries are forecast to reach 32.0 and 32.4 million DWT in 2024 and 2025 respectively. This is... Please follow the link to continue reading.
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BIMCO's Shipping Analyst looks at the shipping number of the week. This week: demolition prices in India have fallen to USD 525 per LDT
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We estimate that the crude tanker and product tanker fleet will end 2023 up 1.8% and 2.0% respectively on last year. Crude tanker growth will also remain muted in the coming few years as the order book to fleet ratio remains very low at 4.3%. Contracting of product tankers has in the meantime inc... Please follow the link to continue reading.
Overall, we expect the supply/demand balance to tighten in 2023, remain stable in 2024 and tighten again in 2025. Supply is expected to grow by 2-3% in 2023 and by 1-2% in 2024 and 2025. Demand is projected to grow by 3.5-4.5%, 1-2% and 1.5-2.5% in 2023, 2024 and 2025 respectively. Under our low d... Please follow the link to continue reading.
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