Maritime Strategies International (MSI), a shipping consultancy, recently released a shipping forecast report for 2023. The report pointed out that the dry bulk shipping market has experienced difficult times in the second half of 2022, and sluggish demand and capacity growth will become obstacles to the market's upward movement in 2023.
MSI forecasts show that dry bulk fleet utilization in 2023 will be lower than in 2022. Natzkoff, deputy director of dry bulk commodities and cargo at MSI, said that even taking into account the large number of old ships scrapped due to low freight rates, capacity will still increase by about 20 million dwt this year.
MSI believes that dry bulk shipping rates in 2023 will be reduced by about 25% to 30% compared with 2022.
