Capesize layups have gained pace through April and top owners including Bocimar, Golden Ocean Group, Livanos and Mitsui OSK Lines (MOL) joined the ranks of the unemployed as capesize utilisation is said to have dipped below 70%.
Analysts expect over 100 capesizes to be scrapped this year, based on demolition sales in the first quarter. But the number of ships held in reserve at various layup ports and anchorages around the world is harder to calculate.
