Increase in detentions within Asia
Safety and quality concerns It has been noticed that an increase in detentions within Asia appears to be adversely impacting on bulker-safety trends.Asia is proving a major driving force behind the growth in the dry-bulk market but there are also signs that it is causing fresh safety and quality concerns for the sector.Intercargo's Benchmarking Bulk Carriers 2010 to 2011 report showsthat the dry-bulk fleet increased by 11.6% and Asia was behind most of that growth with the region for the first time controlling more than 50% of the fleet. Chinese owners have grown by one-third over the past year.A marginal decrease in PSC detentions from 665 bulkers to 646 also shows that the quality of the fleet is improving.Intercargo's analysis shows that the slowdown in detentions has occurred mainly within Europe, while there has been a "marked" increase in detentions within Asia.Intercargo indicates that this is due mainly to the increase in trade in the region.However, there are signs that the trend is playing a significant role in the dry-bulk sector's casualty performance. Out of the seven bulker losses, with 44 seafarers' lives lost last year, six were trading cargoes to China and the other to South Korea. Three of ...
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