Dry-Bulk Fleet Growth to Outpace Demand in 2011, Goldman Says
The commodity shipping fleet will expand at a faster pace than demand next year, Goldman Sachs Group Inc. analysts said.
The fleet will swell by 11 percent, exceeding an 8.4 percent increase in demand, Goldman analysts Scott Malat and Varun Gokarn wrote in a report dated Nov. 29. Port delays and rising shipments up and down the Chinese coast may narrow the resulting “supply-demand gap,” they wrote.
The estimates were part of new research rating the shares of Genco Shipping & Trading Ltd. and DryShips Inc. as “neutral.” Diana Shipping Inc. was rated a “buy.” The analysts gave the overall dry-bulk shipping industry a “neutral” rating.
To contact the reporter on this story: Alaric Nightingale in London at anightingal1@bloomberg.net.
To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net.
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