1. Continued high rates of new ship deliveries and limited fresh contracting activity have led to large falls in the bulker orderbook in 2016 to date. From 118.3mdwt (excluding vessels below 10,000dwt) at end-2015, this dropped by 25.4mdwt, to 92.9mdwt at end-August, or a 21.5% decline. 2. The corresponding reduction in the oil tanker orderbook in the first 8 months of 2016 has been smaller, both in absolute and relative terms. Excluding purpose-built chemical carriers and ships under 10,000dwt, this fell by 16.4mdwt, from 93.7mdwt to 77.3mdwt in this period, or a net decline of 17.5%.
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