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New ship orders collapse

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Dry Bulk,

Japanese shipyards received just two orders for new dry bulk carriers in October, according to data from the Japan Ship Exporters’ Association (JSEA), compared to 27 in the same month in 2015.

According to the JSEA’s monthly statistics, one handymax bulk carrier and one panamax bulk carrier were ordered in October, with a total gross tonnage (GT) of 80,400. In contrast, the JSEA recorded orders for 10 handysize bulk carriers, 11 handymax bulk carriers, two post-panamax bulk carriers and four ore carriers in October 2015.

The decline in ship orders comes as part of the dry bulk shipping sectors attempts to bring market recovery after oversupply let to record low freight rates earlier in the year.

Year-to-date orders have had a total GT of 1.75 million, compared to a GT of 8.34 million between January and October 2015.

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