Clarksons reports the dry bulk fleet having added 1.4 MDWT in December, while a total of 0.8 MDWT was scrapped. Annualizing this data implies a run-rate of deliveries at 1.7% and scrapping of 1%. After adjusting for other changes in the fleet (conversions etc.), net fleet growth in December was 0.5 MDWT or an annualized 0.7%. As the average speed of the fleet fell, we estimate that effective supply decreased with the equivalent of 2.4 MDWT, resulting in an effective net change of negative 1.9 MDWT or an annualized negative 2.4%.

In 2022, the dry bulk fleet saw deliveries of 30.9 MDWT (3.3% of fleet start of year versus our estimated 3.4%) and scrapping of 4.7 MDWT (0.5% versus our estimated 0.7%). The total fleet as per end of December was 972 MDWT, up 2.8% YOY.