Clarksons report the dry bulk fleet having added 2.1 MDWT in June (0.4m of Capes, 0.8 of Pmax, 0.5 of Supras and 0.4 of Handies), while a total of 0.2 MDWT was scrapped (0.2m of Capes). Annualizing this data implies a run-rate of deliveries at 2.6% and scrapping of 0.2%. After adjusting for other changes in the fleet (conversions etc.), net fleet growth in June was 1.9 MDWT or an annualized 2.4%. As the average speed of the fleet fell, we estimate that effective supply decreased with the equivalent of 1.2 MDWT, resulting in an effective net change of 0.6 MDWT or an annualized 0.8%. Year to date the dry bulk fleet has seen deliveries of 15.6 MDWT and scrapping of 1.8 MDWT. The total fleet as per end of June was 959.3 MDWT, up 1.5% YTD.