The oversupply of vessels used to haul dry bulk cargoes, such as coal, iron ore and grain, is likely to persist alongside limited demand growth, depressing rates until the latter half of 2014, brokerage SSY said Thursday. SSY sees a price cap from continued vessel supply, despite growing incentives for older ships to go to the scrapyard early, rather than continue operating meeting industry standards, broker John Keeshan said at the Platts Coal Properties & Investment conference in Fort Lauderdale, Florida.
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