Orderbook for all dry-bulk vessel classes falls by 26% Y-o-Y in Q1

(Posted on 15/04/25)

Global economic uncertainty and a cooling of the market has seen newbuild orders for dry-bulk vessels fall by 26% year-on-year according to Hongbeom Park, Head of Korea for global Veson Nautical, a global leader in maritime data and freight management solutions.

With a heritage of innovation and expertise across all maritime related contracts, Veson serves more than 38,000 users across 2,400 companies in more than 100 countries and is uniquely positioned to enable a decision advantage.

Speaking at Veson Nautical’s Seoul Forum, Park said uncertainty around the future of fuels, historically high newbuild prices and the price premium for dual-fuel vessels was driving the fall.

“The market is slowing in the newbuild sector and orders falling by over a quarter is a reflection of that,” Park said. “If the global uncertainty around tariffs does not ease the market could soften even further as the year progresses.”

Park also told delegates that second-hand market with values for Capesize, Panamax, Supramax and Handysize class vessels had also fallen in QI compared to the peak valuations witnessed in the third quarter of 2024. Five-year old Capesize vessels fell by 11% in Q1, with Panamax falling 12% and both Supramax and Handysize falling by 9%.

“The second-hand market for all dry-bulk vessels became extremely heated in 2024 which led to sharp price increases,” Park said. “Although the market is showing signs of slowing down there is still some upside potential in 2026.”

Veson’s Chief Product Officer, Eric Christofferson, was also speaking at the event and told delegates that the new advances in artificial intelligence (AI) are set to revolutionize the shipping industry, especially in key areas such as streamlining pre and post-fixture workflows, especially around the claims process.

“The South Korean shipping industry has been a global leader in developing and adopting new technologies and it is clear that it will be also leading from the front in terms of adopting AI and using it to drive efficiency and progress,” Christofferson said.

Latest News

New platform cracks down on rogue crewing agents exploiting seafarers

A new recruitment feature has launched to help dismantle the shadow network of rogue crewing agents... Read more

AUMUND Group expands portfolio with integration of ESI Eurosilo

AUMUND has announced that, as of 25 June, 2025, ESI Eurosilo B.V., headquartered in Purmerend, the Netherlands... Read more

Anemoi China facility marks major leap in wind propulsion technology

Anemoi Marine Technologies, a global leader in wind propulsion solutions, has announced the official... Read more

SMART Analytics provides essential visibility for maritime acceleration

Data alone doesn’t solve problems. It is the ability to propel data into transformative action... Read more

Chevron cylinder oil delivers efficiency gains for Susesea’s bulk carrier fleet

Turkish shipowner, Susesea, has successfully upgraded the cylinder lubrication strategy across its fleet... Read more

AAL Damman set to serve project demand also optimized for dry bulk

Global project heavy lift specialist AAL Shipping (AAL) is preparing to take delivery of its sixth 32... Read more

AXSMarine increases Nextvoyage investment

AXSMarine, a pioneer and market leader in the provision of advanced solutions for maritime professionals... Read more

Associated Terminals advances marine cargo innovation with two Liebherr CBG 500 E Cranes

Associated Terminals has announced the commissioning of two Liebherr CBG 500 E cranes, customised with... Read more

Marlow Navigation enhances fleet data security with Dualog Drive

Marlow Navigation, a leading name in global ship and crew management, has strengthened its fleet-wide... Read more

Latvian port receives electric KG MHC for lower-emission operations

Stena Line Ports Ventspils JSC in Latvia has taken delivery of its first electric Konecranes Gottwald... Read more