Enjoy the dry bulk market’s Indian summer while it lasts, says MSI

The scrapping activity, which remains persistently low, and the strong fleet growth will bring earnings under pressure from the fourth quarter of 2025, according to research and consultancy firm Maritime Strategies International (MSI).

“Scrapping activity remains persistently low, while new deliveries continue at a strong pace, only partially offset by 2.8m dwt in removals,” says MSI Director Will Fray. “This strong pace of deliveries is set to continue into 2026, with an additional 42m dwt scheduled for next year, once again concentrated in the mid-size segments.”

MSI warns that despite firmer demand in H2, the