Orders for all classes of bulkers fell by 26% year on year in the first quarter, according to Veson Nautical.
Historically high newbuild prices, price premiums for dual-fuel vessels and future fuel uncertainty pressed down demand for dry bulk newbuildings.
Hongbeom Park, head of Korea at the maritime data company, said: “The market is slowing in the newbuild sector and orders falling by over a quarter is a reflection of that.”
