Demand. In our base case scenario, we expect global dry bulk cargo volume to grow between % and % in 2023 and between 1% and 2% in 2024. Average haul is expected to increase between % and % in 2023, driven by sanctions on Russian coal and higher iron ore and grain shipments from Brazil. In July, the IMF forecast the global economy ...
Regional Outlook. According to the latest dry bulk shipping market forecast, Asia Pacific is anticipated to account for largest share from 2023 to 2031, followed by Europe. Growth in trade activities in China and India is driving the dry bulk shipping market share of the region. China has strengthened its position as the dominant player in bulk ...
The economic slowdown being faced by the world's largest commodity consumer China is also weighing on the dry bulk freight market, along with the demand squeeze being seen in key dry bulk commodities that is impacting the earnings of bulkers across all sizes.
NEW YORK, Jan. 17, 2022 /PRNewswire/ 57% of the growth will originate from APAC for the dry bulk shipping market. China and India are the key markets for the dry bulk shipping market in the ...
China's Coal imports from Australia Plummet %, but India, S. Korea fill the Gaps ... (+% from 7M 2020), generating more tonnemiles and benefitting the dry bulk shipping industry. While ...
Asia's dry bulk shipping market has found support from robust coal demand from Vietnam and China as well as plentiful iron ore flows to China, despite COVID19 pulling down consumption in other pockets, Vivek Kumar, managing director of Western Bulk Pte Ltd. told SP Global Platts in an interview.
Dry Bulk Shipping Market. The dry bulk shipping market is a significant segment of the maritime industry that specializes in the transportation of unpackaged bulk commodities such as grains, coal, iron ore, and other similar goods. Let's delve into an overview and some key aspects of the dry bulk shipping market:
Dry Bulk Shipping Market Size And Forecast. Dry Bulk Shipping Market size was valued at USD 15, Million in 2022 and is projected to reach USD 20, Million in 2030, growing at a CAGR of % from 2024 to 2030.. The rise of seaborne trade, as well as an increase in iron ore and coal transportation, are predicted to drive demand for dry bulk shipping.
China is a major importer of coal and iron ore, which would help the Asian dry bulk shipping sector grow. This is due to the enormous demand for fertilizers, animal dietary supplements, and food ...
in Dry Bulk Market,Hellenic Shipping News 07/07/2023 T he dry bulk market's main themes are revolving around China's emergence as a major coal importer and Ukraine's grain exports.
In the dry bulk shipping market, vessels below Panamax mainly are used to transport grains and other crops, which are commonly used on shorter routes. ... mainly for iron ore routes of BrazilChina and AustraliaChina, as well as various longhaul coal shipments. This type of ship is mainly used to transport coal, manganese ore, iron ore, and ...
Overall, we remain bullish for China's nearterm coal import prospects and for the dry bulk shipping market. China's power plant stockpiles are down yearonyear by about 25%, while coal ...
If India continues to successfully boost domestic supplies, it could accelerate the decline in global coal shipments in 2024. Based on estimates from the United States Department of Agriculture, we estimate grain shipments to fall between % and % in 2023 and to recover between 3% and 4% in 2024. In 2023, maize exports are expected to drop ...
Despite the predominantly negative shortterm outlook held by many market participants, coal trade flows may remain healthy and support dry bulk rates to a certain extent, amid Europe's energy supply crisis caused by the RussiaUkraine conflict. "Coal demand will remain strong for at least another year," commented a third shipoperator.
Dry Bulk Trade 2020 Iron Ore 31% Coal 27% Grain 10% Minor Bulk 32% Total Dry Bulk Trade 2020 * * Includes Chinese coastal coal trades Coal Strongly Influences But Does Not Dictate Freight Rates Iron Ore Iron Ore Iron Ore Iron Ore Coal 10% Coal 39% Coal 24% Coal 16% Grain Grain Grain Bauxite Bauxite Bauxite Bauxite Fertiliser
10. Genco Shipping Trading Ltd. Company runnerup and the main candidate to be included in the top 5 largest dry bulk companies. In 2022, their fleet recap consisted of 44 dry bulk carriers including 17 Capesize, 15 Ultramax, and 12 Supramax class vessels with a total deadweight of 4,308,743 tons.
Dry bulk stocks plunged. While spot rates for Capesizes (bulkers with capacity of around 180,000 deadweight tons) held firm at 53,800 per day, forward freight agreement (FFA) derivatives did not. Amid what one broker called "mayhem," the Q4 FFA contract sank to 36,750 per day, with the December contract all the way down to 29,500.
However, mainland China's stable demand is expected to continue supporting dry bulk shipping moving into the next quarter. More upside risks are there over Q2Q3 2022 with limited fleet supply and ongoing pandemic related inefficiency in port operation, and stronger containergeneral bulker market's spill over impact into geared bulkers.
Rates for Capesizes — larger dry bulk vessels with capacity of around 180,000 deadweight tons (DWT) that carry iron ore, coal and bauxite — averaged 54,600 per day on Monday, according to ...
Given the significance of the import trade in coal and iron ore for China's dry bulk shipping, we used these two essential dry bulk commodities as examples in the section below to assess the potential economic effects of the carbon tax. ... the carbon tax may result in a 1030% increase in freight rates and a 14% increase in import costs ...
En Route to China. Moreover, China's increasing freight demand is adding cost. In our last freight update, we highlighted China as one of the primary ocean freight rate drivers as the world's leading importer of dry bulk commodities, specifically coal and iron 2022, China's GDP growth slowed to % compared to % in 2021; as a result, manufacturing activity and demand for iron ...
China's coal shortage and the hotter weather in northeast Asia should also keep tonnemile demand solid. Freight rates for dry bulk segments are expected to be sustained for the rest of 2021, as countries increase their Covid19 vaccination rates and reopen their borders in a boost to their economies.
Russian dry bulk volumes to China rose % year on year and those to India "nearly tripled," said Nugent. "India, in particular, has shown a willingness to buy cheaper Russian commodities, namely coal, to replace expensive alternatives from other sources such as Australia."
The higher volume of iron ore and coal dry bulk flows to China is reflected in the growth of dry bulk demand tonnedays, where the fourth quarter of the year ended with increasing momentum in the Capesize and Panamax segments. ... Established in 2014 The Signal Group is a diversified shipping services group with offices in London and Athens ...
For example, a bulk carrier carrying a 100,000 metric ton cargo of coal for China 35 per ton would earn gross freight of million. ... Biggest Dry Bulk Shipping Companies. Currently, the following are some of the biggest dry bulk shipping companies worldwide:
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