Dry Cargo

Newcastlemax fleet swells in 2021

Additions to the newcastlemax fleet have soared by double digits this year.

Data from Braemar ACM shows that in the year-to-date, 9.2m dwt of newcastlemaxes have left Asian shipyards to join the merchant fleet, swelling the bulker segment by 12.3%, the highest growth in any dry bulk sector this year.

Overall, the total dry bulk fleet has now increased by 3%, or 26.2m dwt so far in 2021, rising to 902m dwt this week, made up of 11,318 vessels, Braemar ACM data shows. Ultramaxes are the second biggest growers this year.

The total orderbook for the dry bulk sector currently lies at 7.5% of the existing fleet, up from a low of 6.3% in March.

The total number of dry bulk orders is nearing 400 ships this year, highs not seen since 2018, according to Greece’s Eastgate Shipping.

Eastgate is reporting a 30% increase in the levels of the Chinese newbuilding price index where new capes now cost in excess of $60m.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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