Time for a Speed Check ?

摘要

Since 1990 the annual deliveries of dry bulk carriers, 10,000 dwt and above averaged 14.4 mill dwt - peak being in 2007 with 26.4 million tonnes (mt)for delivery. And from there what do we see? 2008: 23.6 mt, 2009:35.9 mt, 2010 (so far): 51.2 mt. Earnings in dry bulk are formidable -12 months tc rates have nearly quadrupled since mid 2005 for Capesize and Panamax. World shipbuilding capacity is responding by a solid expansion. Question is; how long can this new capacity level be kept busy ? A Capesize to be delivered 2008 has this week been sold for USD 148 mill, whereas the NB price for the same vessel for delivery 2010/11 hovers around the 90 mill mark.