In a significant development, the global merchant fleet surpassed the 2-billion DWT mark for the first time earlier this month after being at 1.98 billion DWT at the start of this year, doubling in size in just 13 years, and could be on track to hit 3 billion DWT by 2033, says Clarkson Research, as per a report.
It may be recalled that the first billion DWT capacity was achieved in April 2006, following which the fleet grew at a compounded average growth rate of 5.4 per cent from 2006 to hit today’s 2 billion DWT mark.
Fifty per cent of the added capacity from 1 billion to 2 billion has been in the bulk carrier sector, which is heading towards 1 billion DWT itself at 848 million DWT. Tankers have contributed 27 per cent of the expansion in DWT capacity (15 per cent in crude tankers), and containerships 15 per cent.
