Updated global fleet age and replacement requirements courtesy of the latest Danish Ship Finance report.
We are going to be hearing a lot more about negative fleet growth in #tankers and #drybulk in the coming years. Strap in for higher rates 🚀
Shipbuilding capacity still decreasing. Many second tier yards are unable to build the modern designs and sizes required. 129 second tier yards that delivered a ship in 2021 *did not receive any new orders in 2021*. These yards will most likely cease to exist in coming years.
Drybulk fleet detail. Orderbook to fleet acutely low in small sizes.
Crude tankers:
Product tankers. By far the lowest orderbook at just 4% of fleet. Compare this to today's earnings of $40k per day and DSF calling for 19% demand growth between 2022 and 2023. Just WOW.
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