Value of Dry Bulk Tonnage Soars
Dry bulk tonnage values have surged over the past two years following a period of soft returns which encouraged scrapping while ton mile demand continued to climb. Hire rates are surging, which is encouraging investment in dry bulk carriers, says analyst VesselsValue, and the dry bulk fleet is now worth more than the combined value of the tanker fleet and leapfrogging container ships as well.
Since 2015, the value of the tanker fleet has slipped by almost $50 billion dollars, while bulkers have appreciated by a net $56 billion dollars. Tankers appear to be in the middle of a down cycle, which has depressed the valuation of the tonnage on the water and the outstanding orderbook.
Although the top three vessel segments have shuffled places, gas carriers and small dry ships held onto more historic trends.
Overall, the value of total freight carrying assets fell by about $43 billion from the end of 2015.