Page 6: of Maritime Reporter Magazine (May 1996)

BULK CARRIER UPDATE

Dry Bulk Fleet's Main Niche Sector Faces Increased Competition

A spate of Handy/Handymax size newbuildings — especially part open, flexible and multi-purpose bulk carriers — is set to increase the level of competition in the neo- bulk and unitized sectors of the bulk shipping industry, according a new briefing report from Drewry

Shipping Consultants, entitled

Open Hatch And Container / Bulk

Carriers: Demand, The Fleet and

Competition. Nevertheless, the

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ITALIA major established players contin to have an optimistic outlook, a take the view that they will ha the experience and expertise to s them through any near term di culties.

In part, this belief relies ont fact that, because open hatch to nage carries a sizable price pre- um on the newbuilding mark (perhaps $7 to $8 million befo the topic of cargo handling ge has been addressed), entry purely speculative interests deterred. In addition, these shi tend to see their natural tradi home in neo-bulk traffic areas especially forest products, steel aluminum ingots — and/or co tainers where factors such as se vice quality and reliability assur major importance. Nevertheles the market allows no room for co " placency.

At the end of 1995, the repo said that the open hatch and co tainer/bulk carrier fleet of mo than 20,000 dwt amounted to 3 ships, with an additional 49 order.

Furthermore, the first t months of 1996 have broug reports of an additional ni orders, representing 325,000 d for vessels described as open part open, including fo

Handymax units on CCNI account and a 50,000-dwt examp contracted by Leif Hoegh.

The fleet contains three distin elements: fully open hatch shi fitted with shipboard traveli gantry cranes; part open hate ships fitted with convention cranes which "partly overhang" t" hatch access; and conbulker which are more conventional uni

Fleet of Open Hatch and

Container/Bulk Carriers of 20,000+ DWT (End of 1995)

In Service On Order

No.'OOO DWT No.'OOO DWT

Fully Open Hatch 130 ..4,928 5 ...208

Port Open Hatch 166 ..5,547 44 ..1,527

OtherConbulkers 69 ..2,143 0 0 .365 .12,618 49 ..1,735

Source: Drewry Shipping Consultants 8 Circle 288 on Reader Service Card Maritime Reporter/Engineering New