Panamax slippage hits 36%
Fresh estimates have emerged for the rate of slippage at shipyards ? the number of bulk carriers expected to be delivered in the first quarter that were delayed or deferred.
Panamax vessels have been most affected, with RS Platou Markets estimating that panamax slippage rates were 36% in the first quarter, compared to an average of 26% in 2009.
Some 36 vessels were added to the panamax/kamsarmax fleet this quarter, higher than the average of 20 each quarter in 2009.
Capesize first-quarter deliveries were at 55, compared to average of 28 each quarter in 2009, with RS Platou calculating a slippage rate for this sub-sector of 16%, compared to 23% in 2009.
?We expect this to continue to be the picture through 2010 and 2011,? said the Quarterly Shipping Report.
?The orderbook continues to indicate delivery of more capesize on a relative to panamax while the slippage percentages are also expected to maintain its recent trend.?
As a result there would be continued pressure on capesize rates, the research and equities arm of the Norwegian broker concluded.