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Global Drybulk Fleet will Grow This Year
File Date 2012.01.06 Hit 4619
BIMCO has predicted that despite a tonnage glut now plaguing markets, the global drybulk fleet will grow by at least 12% this year.

Peter Sand, senior analyst at Denmark's Baltic & International Maritime Council, forecast that the box fleet's 2012 growth would be near 8%.

In 2011, he noted, the world drybulk fleet grew by nearly 75M dwt, noted Sand, who added: "Had it not been for a record-high level of large vessels being recycled, the glut of tonnage would have created even greater challenges for owners.”

Laid-up container tonnage “is noticeably distant from the level that made 2010 a very good year”, warned Sand, who added: “The sector is battling on two fronts from the trenches.

“A bad global economic weather forecast is the main demand threat, while the oversupply issue is an internal problem to handle,” he cautioned.

Also, he saw the number of crude tankers growing this year by 7%, and product tankers by 3%.