Hire costs for the global fleet of dry-bulk
vessels will show a “meaningful increase” by 2015 as demand for seaborne
commodities expands amid slowing fleet growth, Bank of America Merrill Lynch
said.
“We see a major shift in the sector next
year, as demand growth once again outpaces fleet capacity additions and the
oversupply in the market starts to shrink. Yet, due to the magnitude of excess supply
over demand, we believe a sustained recovery in bulk freight prices will take
longer to materialize,” the Charlotte,
North Carolina-based investment bank said in a note e-mailed today.
