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Maritime News

Newbuilding Orders Piling Up in Dry Bulk Segment

 

Increasing confidence in the dry bulk market’s long term recovery has triggered an increasing number of newbuilding orders over the course of the past week. In its latest weekly report, shipbroker Allied Shipbroking said that it was “an interesting week for the Newbuilding market was due, mostly attributable to the Dry Bulk sector, which pulled in its weight this week dominating the reported activity tables this past week. Despite the fact that freight market is showing some slight softening, with the BDI having eased back from its early January levels, fresh interest seems ample at this point, a mere reflection of the strong forward outlook being shared right now by most in the market. Moreover, despite overall activity being still relatively slow for the time being, we have been seeing a considerable amount of options being declared. At the same time it looks as though traders are starting to get into the game, providing ample backing for further ordering to take place. On the tanker side, things are still lacking confidence with the bearish attitude in the freight market still leaving for minimal appetite to emerge in realized new orders”.

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