Half of Capesize Bulk Carrier Deliveries Pushed Back, VesselsValue Says

dry bulk ship
Photo credit: Shutterstock/tcly

Exactly half of the newbuild capesize bulkers due for delivery in the first quarter of 2016 have been pushed back as owners react to the poor state of the global dry bulk market, according to the maritime data experts at VesselsValue.

Senior Data Editor for VesselsValue, Craig Jallal, has been searching through their database and has found that orders where deliveries have been pushed back, known as orderbook slippage, is increasing.

“Capesize owners are feeling the pain of the dire freight market, and have reacted accordingly,” Vessels said in an emailed statement to gCaptain.

VV Capesize Slippage (1)

According to VesselsValue, some 28 capesize bulk carriers were due to join the global fleet in the first quarter this year, but delivery of 14 of these has been pushed back to later in the year or beyond. In fact only four of the 28 vessels due for delivery in Q1 were actually delivered, with 9 launched and 1 cancelled.

Looking at dry bulk vessels as a whole, the total number of bulkers due for delivery in Q1 2016 was 290, with 121 deliveries pushed back, 90 delivered and 24 cancelled.