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Bulker delivery surge on the way

Hong Kong: Hong Kong consultancy Transport Trackers has warned on the severe amount of bulkers set to join the fleet in the second half of the year, likely to drive rates down.
"The run rate used to be at about 1m dwt per month until mid-09, then rose to a 2-3m dwt range, and now looks set to jump again in 2H10 to a 4-5m dwt range per month. There is a chance of getting to 7 m dwt month, though the recent Clarksons Dec '09 forecast for this level did not materialize," Transport Trackers wrote.  [29/06/10]

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