Brian....for every one tug handler vessel in lay-up, there is a corresponding number of bulk carriers be they liquid or ore
This is just a function/result of Western society economic modelling........
China needed Coal and Iron Ore in volumes that made Accounts eyeball pop
...so they present profit$ to Ship Builders/Owners and a new fleet of 100,000
+ class ore carriers are built to handle the projected growth for demand for shipping
All is well for a number of years, every one is happy....Iron Ore is $220/tonne...Coal is $300/tonne..........China says
......Iron Ore drops to $65/tonne.....Coal drops to $85/tonne
It is estimated a ~~1.2 million tonnes bulk carrier capacity is also in moth balls.........
The wheels of the Western worlds bank accounts
turn slowly...........
Derek