Dry Bulk Shipping to Stay Pressured on Glut, Moody's Says

Dry-bulk shipping rates will stay pressured for the next 12 to 15 months because there are as many as 30 percent too many vessels, Moody’s Investors Service said.

“Any positive pressure on freight rates is likely to be offset by the large number of new vessels scheduled for delivery, exacerbating current oversupply,” Milan-based Marco Vetulli, Moody’s senior credit officer, said in a report today.

To contact the reporter on this story: Alaric Nightingale in London at anightingal1@bloomberg.net

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net

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