Bottoming in 2022, the growth pace of the Bulk Carrier Fleet accelerates in 2023 (Jan-Aug)

Through Jan-Aug’23, +19.4 Mt-Dwt were added to the Bulk Carrier fleet, equivalent to a +11% or +2Mt-Dwt YoY increase.

Bulkers Fleet Net Change- Jan to Aug_2019 -2023

Recovering from a 4-year low in 2022 driven by slow ordering activity during 2019-2020 (e.g. new IMO 2020 fuel regulations & Covid pandemic), the acceleration in the addition of new bulk carrier in the fleet has been a significant contributor for keeping the average Baltic Dry Index at a 3-year low so far this year.

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