While everyone knows the dry bulk market is suffering from excess supply, opinions vary on where the blame lies.
As the Baltic Dry Index (BDI) plumbs new lows, market watchers point to different segments of the fleet, both on-the-water and on order, as the main reason for the weak sentiment. By and large, capesizes and handymaxes stand out as the main culprits for oversupply and are pegged as prime candidates for order cancellations and demolition.
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