Handysize and supramax newbuilding deliveries have fallen short by as much as 45% this year, from an orderbook that is modest to start with.
That shortfall, along with regulatory uncertainty and a lack of investor interest compared with other sectors, will keep the handysize market tight in the coming months, say shipowners such as Hong Kong's Pacific Basin Shipping.
"We could feel — our chartering guys felt — fewer ships being delivered into the Pacific region during the first quarter, and this was one of the drivers for the improved freight market during the first quarter of 2018," Pacific Basin managing director Mats Berglund told analysts during a conference call last week presenting first-quarter trading results.
