With a massive orderbook, panamax sector will struggle next year.
According to managing director Jeffrey Landsberg of Commodore Research, 355 new panamaxes are slated for delivery in the second half of 2012, while 145 capesizes are scheduled for the same period.
In 2013, 240 panamaxes will hit the water, which is ahead of the capesize tally of 90.
Landsberg said, “While the story for 2012 will likely remain the depressed capesize market, panamax rates are likely to feel great pain in 2013."