SHIPBROKER EA Gibson says this week’s hike in steel prices has placed an unspecified number of shipyards in South Korea and China in ‘dire straits’, with as many as 150 capesizes on order “that will not be delivered”.
That represents about 20% of the existing orderbook of nearly 720 vessels,
Xanadu,
This may signal a decline in the overall fleet for new dwt. If 20 percent of newbuildings dont get built after all its going to give rates alot of bouyancy... Looks good. You were right on the money.......
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