According to Greek shipbroker Intermodal, the oversupply issue in dry bulk shipping market is likely to continue or even be intensified by the end of this year.
Statistics show that averagely four new bulk carriers are delivered every day at present. Intermodal analyst John Cotzias ever estimated in a week report that totally 1677 bulkers of 139m deadweight were projected to be put into service this year. However, the newbuilding output slid mildly since this July and the total deliveries in the first half are about 15% less than the expectation. It is estimated about 1390 bulkers will be delivered this year if current level goes on, the number reduces to 1250 vessels of 108m dwt considering delayed orders.
By August 1st, the global bulker (large than 20,000dwt) fleet stood at 8448 vessels of 640m dwt and are till growing by 20% averagely. However, the market demand for dry bulk shipping capacity is now increasing by 6%, which means the overcapacity of bulker fleet globally is to further intensify in the future.
Intermodal also pointed out that about 500 elder bulkers of 30.0m to 31.0 m dwt will be sent for scrapping in 2012, which will cut the capacity down by 6%.