Fleet supply to overshadow dry bulk sector in 2011

An oversupply of ships will continue to weigh on overall prospects for the dry bulk industry in 2011 despite an expected pick-up in rates for smaller vessels later this year, ship industry officials said on Thursday.
The dry freight market has been pressured by growing deliveries ordered before the economic turmoil of 2008 with the pace of ships hitting the water set to increase this year.
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Source: Reuters