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Global dry bulk fleet utilization dropped to 85.8% in Q4 2018 from 87.2% in Q3, as tonne-mile demand growth was offset by fleet expansion. Capesize freight rates declined from the prior quarter, while Panamax and Supramax were roughly flat.
The fleet orderbook stands at about 11.5% of capacity on the water.
Excess fleet capacity keeps ocean freight rates under pressure, lowering the cost of moving feed grains and meals. The large orderbook suggests weak freight conditions could persist into 2019.
marinelink.comLaxman PaiFeb 20, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
