In April, the dry bulk fleet expanded byrn0.3% on a monthly basis and reachedrn826 mdwt. A lull in the demolitionrnmarket and relatively higher deliveriesrnwill increase the supply further. However,rnsupply growth will still be below growthrnin demand. A positive outlook of therndry bulk charter market kept scrappingrnactivity scarce in April. Demolition activityrnreached its lowest level in the last tworndecades. Only one vessel was sold forrnscrapping (refer to Supramax). On therndelivery side, total 20 vessels joinedrnthe fleet in April. Canada-based Fednavrntook delivery of two vessels. Three morernvessels will join the company’s fleet byrnend-2018.
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