“At the start of October, the capesize order book was at 20 million DWT, a mere 5% of the capesize fleet. The contracting of newbuild capesize ships has gradually decreased since its peak in 2013 and only 5 million DWT were contracted so far in 2023, down 4% y/y. Low freight rates paired with a young fleet are keeping the order book small,” stated Filipe Gouveia, Shipping Analyst at BIMCO.
Contracting of newbuild ships typically increases following periods of high freight rates. For capesizes,...
https://container-news.com/capesize-order-book-slips-to-5-of-fleet-as-contracting-falls/