Shipyards have 135 ships on their books, 36% of the current operational fleet. Of these, 12 are due by the end of this year and will emerge into a stagnant spot market, according to Germany’s KfW IPEX-Bank.
Spot charter rates are down from a peak of $150,000 per day in 2012 to an average of about $40,000 per day.
“Roughly one third of the 135 newbuildings that are to be delivered by 2017 has no fixed employment to date,” the bank said.
“Some
