Dry bulk orders fell during the previous four months to 0.4m DWT/month which is one of the lowest levels since the 90s. According to Clarksons this is something to be expected especially when we are talking about a market with Capesizes earning approximately $4,000/day.
In terms of investment this can be considered as the end of a phase in the bulk carrier history which was characterized by overwhelming orders (70m DWT/year for the last decade). This trend was of course the result of sky high freight rates from 2002 and onwards. The earnings during these years paved the way for relevant investments.
The current reduction in bulk carrier investments presents many difficulties for the shipyards. For example, according to Clarksons, bulk carrier prices are approximately 5% reduced for this year and orders are almost non-existent.
Source: Clarksons Research
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