Strong demand and restrained supply are boosting bulker freight rates, setting the stage for strong newbuild activity over the next five years.
Despite a struggling global economy, demand for the transportation of key commodities remains high. Following a period of extremely low newbuild activity, this has led to an imbalanced market, boosting freight rates and driving bulker owners to invest in new vessels. DNV estimates that between 400 and 500 new bulkers will be ordered per year for the rest of the decade, with most of these equipped with energy efficiency technologies to achieve emissions reductions.
Learn from our DNV expert about what lies ahead for the bulker market for the remainder of the 2020s.
Best regards, Morten Løvstad Vice President, Business Director – Bulk Carriers DNV
