Everything written here trying to extract key numbers from this market analysis
Utilisation rate of the drybulk fleet: –> 2007: 99.9% Vs. 2016: 70%. The 30% of excess capacity is representing 227 Millions DWT at sea, which to figure out equals to 73% of the entire current Capesize fleet or all ships (at sea) built before 2006!
Break haven for owners, likely to come back when utilisation rate back above 74.4%. When this utilisation rate likely to be back above 74.4%… ? Well please read the report… not much to had