Bulk mania sees orderbook leap by 50% this year

Hong Kong: The bulk orderbook has leapt an incredible 50% in the four months since early 2007, according to statistics unearthed by Citigroup. Furthermore, it could be up 75-100% for the year in a few more months with the bank terming that likelihood as 'very possible'.

Between January and May the total bulk orderbook has risen over 50% from about 82m dwt to about 125m dwt according to Clarkson figures, and, claims Citigroup 'no doubt this will go a lot higher to take into account missed orders and new May, June, July...'

Fearnley's latest weekly newbuild report comments: 'The bulkermania continues this last week of May. Lead by a large amount of contracts being placed for Capesize bulkers, we see yet another fast moving week in the dry bulk segment. The activity in the Supramax size segment is also still high, with a total of 17 vessels placed on order this week. The Korean builders secure contracts for together 14.'  [31/05/07]