Surge in Panamax newbuilding orders.

There has been a surge in Panamax newbuilding orders in the first four months of 2023. So far this year there have been 61 orders placed, compared to just 13 for the same period in 2022, an increase of c.369%. The majority of these orders have been placed since March, coinciding with an uptick in Bulker spot earnings as confidence in this sector begins to grow once again. After falling to a two and a half year low of around 5,900 USD/Day in...