Global economic uncertainty and a cooling of the market has seen newbuild orders for dry-bulk vessels fall by 26% year-on-year according to Hongbeom Park, Head of Korea for global Veson Nautical, a
Global economic uncertainty and a cooling of the market has seen newbuild orders for dry-bulk vessels fall by 26% year-on-year according to Hongbeom Park, Head of Korea for global Veson Nautical, a global leader in maritime data and freight management solutions.
Speaking at Veson Nautical’s Seoul Forum, Park said uncertainty around the future of fuels, historically high newbuild prices and the price premium for dual-fuel vessels was driving the fall.
“The market is slowing in the newbuild sector and orders falling by over a quarter is a reflection of that,” Park said. “If the global uncertainty around tariffs does not ease the market could soften even further as the year progresses.”
Park also told delegates that second-hand market with values for Capesize, Panamax, Supramax and Handysize class vessels had also fallen in QI compared to the peak valuations witnessed in the third quarter of 2024. Five-year old Capesize vessels fell by 11% in Q1, with Panamax falling 12% and both Supramax and Handysize falling by 9%.
“The second-hand market for all dry-bulk vessels became extremely heated in 2024 which led to sharp price increases,” Park said. “Although the market is showing signs of slowing down there is still some upside
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