Ship owners unfazed by market tumble, keep placing newbuilding orders

With the dry bulk market at a two-year low at just 1,107 points, after losing an additional 2.64% at the beginning of the new week, one would expect that ship owners would have scaled back on their new building investment programmes. But, as one can clearly see by checking the latest ship brokers’ reports, this isn’t the case, not even by miles. According to Golden Destiny, just last week, with the dry bulk market losing ground consistently, an impressive 60 new building orders were reported, equalling a total invested capital of more than 2.8 billion dollars.
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Source: Hellenic Shipping News