Dry Bulk Fleet developments in 2010

The dry bulk fleet expanded rapidly in 2010. After allowing for scrappings, conversions, sinkings and other removals there was a net growth of 830 ships amounting to an additional 77 Mdwt. In terms of deadweight this was an expansion of an unprecedented 17.7% or 12.7% in terms of numbers of ships.

At the 1st January the dry bulk fleet (above 10,000 dwt) stood at 7,365 ships of some 511 Mdwt. Despite the highest level of deliveries ever seen in 2010 (some 907 ships of 38.1 Mdwt) it seems as if the fleet could expand even faster this year with a scheduled delivery this year of over 1,600 ships of 138 Mdwt. Slippage last year amounted to 37% meaning that 63% of those ships scheduled to be delivered at the start of 2010 actually were delivered by year end. If a similar slippage rate is seen this year it still implies deliveries of around 1,000 ships.
Source: ICAP Shipping