The reduction in the order book is even more impressive if compared to the existing fleet. At the end of 2008,the dry-bulk order book was equivalent to almost 80 percent of the fleet at that time,while the tonnage on order as of january 2013 is the equivalent of just 20 percent of the fleet in service. For tankers,the order book went down from 50 percent of the fleet at its peak to around 10 percent in january 2013