A recent streak of optimism is waning for shipowners who in earnings reports say they see vessel rates remaining weak for the immediate term as the dry bulk fleet copes with an influx of newbuilds that exceeds the pace of worldwide growth. But the pace of newbuilds is slowing for Capesize vessels in 2013, and for all new vessels the order book declines dramatically in 2014 as banks severely restrict loans for new vessels, Navios Maritime Partners president Theodore Petrone said on the company's fourth-quarter earnings call.
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