Drewry's Analysis Raises Questions for the Dry Bulk market

“Annual Dry Bulk Market Review and Forecast 2003/04” considers the future of each of the dry bulk fleet sectors London, UK, September 15 2003: Drewry Shipping Consultants, the world's leading maritime consultants, today announced that its latest report, “Annual Dry Bulk Market Review and Forecast 2003/04”, is now available to purchase. This in-depth review of the market addresses the question: how long will the current high freight rates and even higher levels of optimism continue? The “Annual Dry Bulk Market Review and Forecast 2003/04” provides detailed analysis and five-year forecasts of each of the dry bulk sectors – Capesize, Panamax, Handymax and Handysize – and of all the major commodities specific to this sector: - Crude steel production - Iron ore demand - Steam and coking coal demand - Grain demand - Minor bulk demand The market is currently buoyed by high freight rates and even higher levels of optimism but with the market hitting an all time peak in May 2003 and recording consistently firm levels ever since, the question now is how long will this last? “The forecasts for the global economy over the short term are steady, albeit that growth in 2003 is expected to be slightly slower than over 2002, with Asia and, in particular, China having very firm growth expectations,” commented Susan Oatway, Director of Bulk Shipping at Drewry. “Already over the first half of 2003, the demand for iron ore from this region has been the principle driving factor behind the dry bulk market.” Taking these factors into account, Drewry's report examines the potential for further trade growth in the medium-term and provides an analysis of trade expectations. The Drewry Dry Bulk Market Annual Review and Forecast provides a detailed analysis of the historic and future demand levels for all the major commodities specific to this sector. It looks at the seaborne trade on a regional and global basis and makes an assessment as to how these trades will change over the next five years. Furthermore, the report analyses each of the dry bulk fleet sectors and also assesses the influence of each of these sectors on the others, whilst detailing how outside influences can change the whole tone of the market in days. This latest annual reveals that despite current positive trends, the newbuilding orderbook continues to cause concern in some sectors of the dry bulk fleet. In particular, the Panamax fleet and the Ultra Handymax are closely examined in the Drewry Dry Bulk Market Annual Review and Forecast to anticipate the effect that these new vessels will have on the fleet and the market within which they trade. Key information uncovered by Drewry's latest report: - Seaborne dry bulk trade - Trade by fleet sector - Fleet development - Vessel demand - Supply-demand balance - Charter market and rates - Dry bulk carrier costs “Annual Dry Bulk Market Review and Forecast – 2003” is published by Drewry Shipping Consultants Ltd. Individual copies of the report are priced, including postage to any part of the world. Print & Pdf £845 Print only £750 Pdf only £750