“The age breakdown of the dry bulk fleet has undergone a notable shift in the last two years, as the bulk of the pre-financial crisis ordering has worked its way through the system,” Alphabulk noted in its most recent weekly report.
The supramax fleet has seen the most “drastic transformation” in the past two years, the analysts noted, with the proportion of ships below the age of five falling from 34% to 22%.
The number of ships aged 5-9 is unchanged as a percentage of the fleet but 15-19 year old ships now make up 20% of the fleet versus 12% two years’ ago.
The sector has a relatively low number of vessels above 15 years but a notable 125 ships, or nearly 6m dwt, of 25 years and over.
Data from Braemar ACM from earlier this month shows that supramax newbuild deliveries peaked in 2011 and have been declining ever since.