Dry Bulk Ship-Use to Drop to Decade-Low, Pareto Says

Dry bulk ship-usage will drop to the lowest level in a decade by next year because the fleet is expanding faster than cargo growth, Pareto Securities AS said.

Volume-demand to ship commodities such as coal, iron ore and grains will jump 8.4 percent this year and 7 percent in 2012, Pareto analysts led by Martin Korsvold in Oslo said in an e-mailed report today. That will still lag behind fleet growth of 13 and 12 percent respectively. Expansion was 14 percent last year, he said.