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

Rollout of CMT test kits increase as bulk shipmanagers look to reduce costs

CM Technologies (CMT) has supplied its integrated onboard fuel/oil testing and analysis kits to a fleet... Read more

Superior’s TeleStacker conveyor evolution continues to improve plant and port performance

Superior Industries, Inc., a U.S.-based manufacturer and global supplier of bulk material processing... Read more

Repositioned for the Future: NDE Readymix’s E-Crane Transformation

NDE Readymix Concrete Ltd., established in 2009, is the largest non-cement ready-mix concrete producer... Read more

Hazira Port crane success for Steelpaint’s new Stelcatec-L repair coat solution

German corrosion protection specialist Steelpaint has successfully completed a technical field trial... Read more

Veson Platform a new foundation for maritime trade

Veson Nautical has announced the Veson Platform, a unified, AI-powered experience that brings together... Read more

ABB to acquire Høglund to expand marine automation offering

ABB has announced that it has entered into an agreement to acquire marine automation specialist Hø... Read more

NAVTOR sets new standards with Digital Logbook ‘industry firsts’

NAVTOR has unveiled the latest iteration of its Digital Logbooks offering, featuring the industry&rsquo... Read more

Industry warned battery fire awareness must catch up with changing onboard risks

The maritime industry is facing a rapidly changing fire risk on board vessels as electric vehicles and... Read more

Smart Ship Hub launches one of industry's lowest-cost vessel data loggers

Smart Ship Hub (SSH), the maritime intelligence and data collection platform, has launched one of the... Read more

75 Years young: Verstegen celebrates three quarters of a century of excellence

World leading manufacturer of rope operated mechanical grabs for the dry bulk industry, Verstegen Grijpers... Read more