In the bulker shipping industry, shipping companies are currently very cautious when it comes to further developing their fleets with newbuildings.
The global order book for bulkers has slumped by more than a quarter compared to the previous year.
In a fleet update, the industry service and data analyst Veson Nautival speaks of a decline of 26%.
Hongbeom Park, Head of Korea at Veson Nautical, attributes the development to various reasons. These include uncertainty about the future of fuels, the historically high newbuilding prices and the price premium for dual-fuel ships.
“The market is slowing down in the newbuilding sector and the drop in orders by more than a quarter reflects this,” said Park. Geopolitics and trade policy are also playing a role – this could even get worse: “If the global uncertainty surrounding tariffs does not subside, the market could soften further as the year progresses,” said Park.
According to his data, the market for second-hand Capesize, Panamax, Supramax and Handysize class vessels also fell in the first quarter compared to the peak values in the third quarter of 2024. Five-year-old Capesize vessels fell by 11% in the first quarter, Panamaxes by 12% and both Supramax and Handysize bulkers by 9%.
“The second-hand market for all bulkers has heated up extremely in 2024, resulting in sharp price increases,” Park said. “Although the market is showing signs of slowing, there is still some upside potential in 2026.”
