The banking crisis persists, new loan volumes are falling quarter to quarter, Europe is a mess especially after the French and greek elections and still some people are ordering new ships in segments that have been oversupplied for years! A segment with a positive outlook ( the MR’s) is in danger of getting overbuilt since in the last 6 months we have seen a huge number of orders!
LS nikko copper wet to Hyundai mipo for a 38,000 dwt bulker for their own trade whereas niovis went to mitsui for a 66,000 dwt bulker option one with very shallow draft.

Full article, ELNAVI, June 2012, Issue 462, Page. 126

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