Metals and sugar face freight rate surge

Paris - Dry bulk freight rates for the smaller sizes of ship are likely to rise significantly over the next three years as demand is expected to outstrip supply, a shipping analyst said Thursday. New orders for Handysize, Handymax and Supramax vessels were at extremely low levels

Paris - Dry bulk freight rates for the smaller sizes of ship are likely to rise significantly over the next three years as demand is expected to outstrip supply, a shipping analyst said Thursday.

Speaking at the International Chromium Development Association’s annual meeting in Paris, Denny Sabah, a dry bulk freight analyst at Clarksons Platou, said that new orders for Handysize, Handymax and Supramax vessels were at extremely low levels, especially ships in the 40,000-45,000 dwt size ranges.

This would particularly affect shipping of alumina, bauxite, copper concentrate, manganese ore, chrome ore, zinc concentrate and ore, sugar, cement, bulk fertilizers and grain: “The availability of these ships will shrink in the next three years,” Sabah said. “If you regularly charter 40,000 dwt ships you will have less to choose from [compared with now].”

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