Outlook for the dry bulk shipping market in the next 5 years
The main objective of this report is to provide an outlook of the dry bulk shipping market within the next 5 years. The market has been on a decline since the 2008 financial crisis, with shipowners that are struggling under the pressure of freight rates that are at an all-time low. The question th...
| Main Author: | |
|---|---|
| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
2016
|
| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/68011 |
| _version_ | 1811681283528458240 |
|---|---|
| author | Yeo, Kai Hong |
| author2 | Vernlick Chua |
| author_facet | Vernlick Chua Yeo, Kai Hong |
| author_sort | Yeo, Kai Hong |
| collection | NTU |
| description | The main objective of this report is to provide an outlook of the dry bulk shipping market within the
next 5 years. The market has been on a decline since the 2008 financial crisis, with shipowners that
are struggling under the pressure of freight rates that are at an all-time low. The question that
everyone is asking is when the market will finally recover from the current depression.
Through this report, research is done on the key variables that influence the dry bulk shipping
market, comprising of the world economy, demand for dry bulk commodity shipping, supply of dry
bulk fleet and freight rates that reflect the current market situation. For the supply side, variables
like fleet size, number of new orders and scrapping are analysed in order to determine the trend of
the dry bulk fleet development. For the demand side, trade levels and market activities for the 3
main dry bulk commodity are analysed to obtain a read on the global demand for dry bulk.
Despite the global economy on a path of recovery, the situation in the dry bulk market depicts a
different picture. The BDI is at a historical low, due to the severe oversupply problem in the dry
bulk fleet. With demand levels of dry bulk shipping flatting out and possibly waning, the effects of
increased scrapping of vessels and reduction of new orders are minimized. The dry bulk market is
unlikely to show any clear signs of recovery, not until the oversupply problem is resolved and
demand of shipping to catch up with supply of vessels. The resolution of this depression is not
expected to happen anytime in the near future. |
| first_indexed | 2024-10-01T03:38:29Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/68011 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T03:38:29Z |
| publishDate | 2016 |
| record_format | dspace |
| spelling | ntu-10356/680112023-03-03T17:13:45Z Outlook for the dry bulk shipping market in the next 5 years Yeo, Kai Hong Vernlick Chua School of Civil and Environmental Engineering DRNTU::Engineering::Maritime studies::Maritime management and business The main objective of this report is to provide an outlook of the dry bulk shipping market within the next 5 years. The market has been on a decline since the 2008 financial crisis, with shipowners that are struggling under the pressure of freight rates that are at an all-time low. The question that everyone is asking is when the market will finally recover from the current depression. Through this report, research is done on the key variables that influence the dry bulk shipping market, comprising of the world economy, demand for dry bulk commodity shipping, supply of dry bulk fleet and freight rates that reflect the current market situation. For the supply side, variables like fleet size, number of new orders and scrapping are analysed in order to determine the trend of the dry bulk fleet development. For the demand side, trade levels and market activities for the 3 main dry bulk commodity are analysed to obtain a read on the global demand for dry bulk. Despite the global economy on a path of recovery, the situation in the dry bulk market depicts a different picture. The BDI is at a historical low, due to the severe oversupply problem in the dry bulk fleet. With demand levels of dry bulk shipping flatting out and possibly waning, the effects of increased scrapping of vessels and reduction of new orders are minimized. The dry bulk market is unlikely to show any clear signs of recovery, not until the oversupply problem is resolved and demand of shipping to catch up with supply of vessels. The resolution of this depression is not expected to happen anytime in the near future. Bachelor of Science (Maritime Studies) 2016-05-24T03:03:40Z 2016-05-24T03:03:40Z 2016 Final Year Project (FYP) http://hdl.handle.net/10356/68011 en Nanyang Technological University 75 p. application/pdf |
| spellingShingle | DRNTU::Engineering::Maritime studies::Maritime management and business Yeo, Kai Hong Outlook for the dry bulk shipping market in the next 5 years |
| title | Outlook for the dry bulk shipping market in the next 5 years |
| title_full | Outlook for the dry bulk shipping market in the next 5 years |
| title_fullStr | Outlook for the dry bulk shipping market in the next 5 years |
| title_full_unstemmed | Outlook for the dry bulk shipping market in the next 5 years |
| title_short | Outlook for the dry bulk shipping market in the next 5 years |
| title_sort | outlook for the dry bulk shipping market in the next 5 years |
| topic | DRNTU::Engineering::Maritime studies::Maritime management and business |
| url | http://hdl.handle.net/10356/68011 |
| work_keys_str_mv | AT yeokaihong outlookforthedrybulkshippingmarketinthenext5years |