[quote user="hamhamdodo"]On March 3rd Pacific Basin announced annual profits of $472m, up 328% on the previous year, but its share price is down almost 30% from its peak last November. Jinhui's shares are down even more, and in late January it said it had paid $4m to cancel construction contracts for two huge ore-carriers, worth $123m each, that it had ordered in November—at the very moment that may, in retrospect, have been an inflection point. The cancellation was put down to financial difficulties flowing from America's credit crunch. But bankers seem suddenly alive to the possibility that demand for shipping may be slowing just as the supply of ships is increasing.[/quote]

10/03/2008 (Source: BRS) Number of ships

2008

(deliv.)
2008* 2009 2010 2011 2012 2013+

Total

on

order

VLOC 12 13 21 34 21 2 103

Capesize (4) 40 126 239 94 12 5 516

Small Cape (1) 17 48 99 83 19 266

Panamax (9) 89 96 149 81 18 2 435

Supramax (16) 177 262 286 168 40 2 935

Handysize (8) 129 208 185 116 29 667

Total (38) (464) (753) (979) (576) (139) (11) 2922



2008 order 464 ships

2009 order 753 ships

2010 order 979 ships

year 2011