The dry-bulk fleet grew by 49 ships in the first half, demonstrating that even in a historically low market demolition has been unable to keep pace with deliveries of ships ordered in more optimistic times, data from Deutsche Bank show.
The net growth brought 6 million dwt of new capacity to the market in the first half.
Shipping analyst Amit Mehrotra, who compiled the data, said the numbers cast doubt on market commentary that suggests that the high level of ship scrapping will help spark a bulker market recovery soon.
Decline
