Global Dry Bulk Carrier Market 10-Year Review
2014-09-29 08:00
Clarkson's recent report indicates that since early 2005, global shipowners have ordered 9021 bulk carriers ( ship type shipyard transactions ). New ship orders in 2013 reached 1200, but from January to August 2014, new bulk carrier orders totaled less than 500. Despite the decrease in orders this year, several different order trends have emerged in recent years for bulk carriers.
Clarkson's report points out that in recent years, orders for Ultramax bulk carriers (60,000-64,999 DWT) have rapidly increased, jumping from 24 in 2010 to 392 in 2013. To date this year, Ultramax bulk carrier orders have reached 173. From 2010 to the present, the proportion of Ultramax bulk carrier orders in total bulk carrier orders has increased from 2% to 36%. Among the hand orders for Handysize bulk carriers (40,000-64,999 DWT), Ultramax bulk carriers account for the largest proportion, with a total of 593, or 74%. The growth in Ultramax bulk carrier orders is particularly beneficial to Chinese shipyards; since 2013, 80% of Ultramax bulk carrier orders have been received by Chinese shipyards.
In contrast, since 2007, orders for Supramax bulk carriers (50,000-59,999 DWT) have steadily declined. In 2007, shipowners ordered 549 Supramax bulk carriers, accounting for 27% of the total bulk carrier orders that year. However, Supramax bulk carrier orders fell to 52 in 2013, and so far this year, Supramax bulk carrier orders are only 11, with more and more shipowners opting for Ultramax bulk carriers.
Similarly, over the past 10 years, orders for Panamax bulk carriers (70,000-79,999 DWT) have also been declining, while orders for Kamsarmax bulk carriers (80,000-89,999 DWT) have gradually increased. In 2010, shipowners ordered 260 Kamsarmax bulk carriers, accounting for 18% of the total bulk carrier orders that year; in 2009, Kamsarmax bulk carrier orders were only 17. The proportion of Kamsarmax bulk carriers in the entire bulk carrier fleet has increased from 5% at the end of 2010 to 8% currently. Orders for Kamsarmax bulk carriers have remained stable, reaching 157 in 2013 and 75 year-to-date. Meanwhile, from 2011 to 2013, shipowners ordered 83 Panamax bulk carriers, while year-to-date orders for Panamax bulk carriers are only 4.
In addition, since 2012, orders for Newcastlemax bulk carriers (200,000-209,999 DWT) and Wozmax bulk carriers (250,000-259,999 DWT) have been increasing, from 4 in 2012 to 121 since the beginning of 2013. Since early 2008, orders for very large ore carriers (VLOC) of 320,000 DWT have totaled 31. ore carriers ( ship type shipyard transactions ) At the same time, orders for traditional Capesize bulk carriers remain stable, with shipowners ordering a total of 182 bulk carriers of 180,000-184,999 DWT since 2012.
Clarkson concludes that bulk carrier capacity is constantly expanding; currently, the average capacity of each bulk carrier is 26% higher than in early 2007. Although new ship orders have decreased this year, the pursuit of economies of scale by shipowners remains unchanged.
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