New York: Panamaxes, not capesizes, look likely to suffer the most from overcapacity in 2013, according to Commodore Research & Consultancy.
There are 595 panamaxes scheduled for delivery by the end of 2013, including 355 vessels this year and 240 next, the New York-based consultant said in an e-mailed report today. That compares with an orderbook of 235 capesize ships by the end of next year.
“In 2013, the panamax market is poised to become the most oversupplied of all of the dry-bulk vessel classes,” said Jeffrey Landsberg, managing director of Commodore. “While near- term prospects for capesize rates remain bleak due to the tremendous amount of capesize vessels that will remain available in the market, a strong case can be made that future prospects for panamax rates are considerably worse.” [18/06/12]