Edited by Foxit PDF Editor

Copyright (c) by Foxit Software Company, 2004 - 2007

For Evaluation Only.

4,100
4,000
3,900
3,800
3,700
3,600
3,500
3,400
3,300
3,200
3,100
3,000
2,900
2,800
2,700
2,600
2,500
2,400
2,300 1%
2,200
2,100
2,000

17%

17%

15%

10%

10%

10%

9%
7%

14%

9%
7%

7%

7%

7%

6%
5%
3%

2003

2%

2004

2005

2006

Trade (Mt)

2007

2008

3%

2009

2010

Required dwt growth

2011

2012f

17%
16%
15%
14%
13%
12%
10%
11%
10%
9%
8%
7%
6%
5%
5%
4%
4%
3%
2%
0%
1%
0%
-1%

2013f

% y-o-y growth

Trade in million tonnes

Drybulk supply and demand

2014f

Net fleet growth

19 June 2012
www.clarksons.com