2025 off to slow start for bulk carrier orders

With only 22 bulk carriers (≥10kt-DWT) ordered through Jan-Feb 2025, it has been the slowest start to the year since 2018, signalling the end of the current cycle.

Bulk carrier orders 2025 chart in IFCHOR GALBRAITHS brand colours showing YTD orders at 22, the lowest since 2018. The bar chart tracks annual YTD orders from 2005 to 2025, with peaks in 2007 (290 orders) and 2010 (258 orders), followed by a sharp decline. The yellow line represents the year-on-year percentage change.

Shipowners remain cautious amid weak spot freight rates, firm newbuild and second-hand prices, and growing uncertainty around fuel alternatives. Extended delivery timelines due to shipyard backlogs – which also include tankers and containerships – further complicate the market outlook.

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