Dry bulk newbuild orders have leapt 60% year-on-year with ultramaxes leading the charge.
According to data from brokers Intermodal, in the first eight months ultramax orders have more than tripled with capesize/VLOC orders, up 41%, in second place. The only sector to have recorded a slowdown over 2017 figures has been the handysize segment.
However, comparing the respective S&P activity in each of these sizes, handysize vessels are the only ones looking at increased interest compared to last year, something Intermodal stated in its most recent weekly report was partly explained by the appreciation bigger sizes have seen in secondhand values, and the jump in newbuilding prices.
The Baltic Dry Index has scaled highs this year not seen for four years and looking ahead Splash readers, in an ongoing poll, reckon dry bulk has the second best prospects behind LNG next year.