Subscribe to RSS feedNewbuilding glut sparks dry bulk downgrade
by
Liz McCarthy, London
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last modified
Jan 25, 2010 09:05 AM
NORWEGIAN investment bank Arctic Securities has recommended investors in publicly-listed dry bulk companies sell shares quickly before a “tsunami” of newbuilding deliveries hits the market.
Despite strong freight rates over the last two months and continued high imports of iron ore to China, scheduled 2010 deliveries could potentially see the current fleet of around 7,000 dry bulk vessels grow by 28.7% this year.
“Current market...
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