Diana: More dry bulk scrapping needed

摘要

Dry bulk markets need ship scrapping to accelerate and a third of new vessel deliveries canceled or delayed this year to balance new vessel supply against slowing demand growth in Asia. At least 30-40mn deadweight tonnes (dwt) of older vessel capacity needs to be scrapped this year, up from the 25mn dwt scrapped in 2011, and new vessel deliveries cut to around 70pc of orders to “get some sort of balance” in the market, Anastasi- os Margaronis, president of Greece-based Diana Shipping, said at the end of February.