“Unless the older non-eco tonnage is made obsolete and phased out in a similar manner to single-hull tankers, we will not see a two-tier market but an overall low freight rate market for an extended period of time,” DVB Bank predicts.
Ultramax vessels of 60,000 dwt to 65,000 dwt, and potentially larger, will have several advantages over the existing handymax fleet of 40,000 dwt to 50,000 dwt but that may not be enough to make them profitable, the bank’s shipping research unit forecasts.
“In
