Page 6: of Maritime Reporter Magazine (March 1996)

BULK CARRIER MARKET

Bulk Carrier Construction

Trends positive for Handy size ships by James R. McCaul, president, IMA Associates, Inc.

The world inventory of dry bulk carriers consists of 4,300 ships which are more than 20,000 dwt. Handysize bulk carriers between 20,000 and 37,000 dwt account for 44 percent of the inventory. Handymax bulk car- riers between 37,000 and 55,000 dwt account for another 24 percent of the total. The balance is comprised of Panamax bulk carriers between 55,000 and 80,000 dwt, Capesize ships over 80,000 dwt and combination carriers that move between the liquid and bulk trades.

About 365 bulk carriers are now on order worldwide. The cumulative value of the construction contracts totals $10.8 billion, with more than 50 percent of this total represented by Panamax and larger ships. Here's how the current backlog breaks down.

THE BULK CARRIER INVENTORY 1027 744 1 407 238 1 1 | |

Handysize 20-37K DWT

Handymax Panamax 37-55K DWT 20-37K DWT

Capesize 80K+ DWT

OBO

Source: IMA Associates, Shipbuilding Industry Outlook

Market Segment

Handysize

Handymax

Panamax

Capesize

Total # of Ships on Order 87 116 84 79 366

Value $1.8 $2.9 $2.5 $2.6 $10.8

Major Players

Asian shipyards are clearly the dominant players in dry bulk carrier construction. Japanese shipyards are the major builders of bulk carri- ers to Panamax size, accounting for 38 percent of bulk carriers between (continued on page 11)

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Big crimper performance at a small crimper price. 66 Maritime Reporter/Engineering News