Can Owners Avoid Growing Pains (February 27, 2015)
Fleet expansion remains limited despite healthy market
Fleet growth was limited in 2014 as the large orderbook that existed at the start of the financial crisis was mostly delivered or cancelled prior to last year. Contracting was also limited as the financial turmoil and market uncertainty kept owners away from the shipyards. Growing demand with limited fleet growth resulted in a tightening supply/demand balance and improving freight rates.