On Monday, when the irrepressible team of Emanuele Lauro and Robert Bugbee announced yet another round of newbuildings for their Scorpio Bulkers venture, this time a whopping 20 capesizes plus an extra pair of kamsarmaxes, TradeWinds reporter Aaron Kelley scouted analyst opinion and turned up generally positive responses.
The verdict of traditional shipowners may turn out to be different from that of financially driven players but, in any event, the Scorpio order and other recent developments show that one of the supposed defences against further overtonnaging — the theory of “fully booked top yards” — may have been overstated.
Confidence
