Today 682 ultramaxes are in the global orderbook, up from 388 in June last year, Intermodal says.
“Although not all of them will be materialized, it will no doubt put a lot of pressure in the supramax and the panamax markets going forward,” Theodore Ntalakos, a newbuilding broker at the Greek company, wrote in its weekly report.
“The silver-lining is that while it’s no more than two years since the panamax orderbook also stood at more than 650 vessels, the freight market still managed to improve in 2013 showing that solid demand can somewhat support a little extravagance in ordering.”
Ntalakos
