Overcrowded Underground

May 2001
Logistics & Transport Focus;May2001, Vol. 3 Issue 4, p4
Trade Publication
The Annual Dry Bulk Market Review and Forecast-2002 of the Drewry company, which explained the reasons behind the expected recovery in the fourth quarter of 2002 is the main focus of this article. Although 2002 is unlikely to see a sustained recovery in freight rates before the last quarter of the year, this reports predicts that 2003 shows great promise. The projected level of new building deliveries shows a decrease compared to 2002 and 2001. Meanwhile the number of vessels heading for the demolition beaches will continue to rise to the six million mark by the same year. Trade forecasts are also good with most commodities showing a healthy rise as the global economy picks up and confidence returns to the sector. The report looks ahead for the next five years and provides forecasts for dry bulk demand and fleet supply.


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