Handysize owners are unlikely to join the newbuilding parade as owner of larger tonnage crowd the shipyards with pens in hand.

So thinks Hong Kong based Pacific Basin Shipping, whose chief executive officer Mats Berglund points to uncertainty about the effects of regulatory change keeping owners in his segment relatively disciplined about adding capacity to the global fleet.

"Even if you were going to order ships, what would you order?" he asked TradeWinds.