Subscribe to RSS feedCapesize lay-ups loom as zero fixtures appear
GROWING numbers of owners and operators are considering temporarily laying up their capesize vessels for the first time in 20 months as news emerged of the first zero-dollar-per-day fixture of 2010, reflecting the struggle of larger bulk carriers to gain employment amid shrinking global demand for iron ore and coal.
“Owners with large fleets are seriously considering idling ships,” a Beijing-based shipbroker said.
This would see surplus tonnage removed from the market in an attempt to force spot rates higher.
The zero-dollars-per-day fixture was reported for the 1992-built, 151,492 dwt...
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