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Supply/demand balance

We expect the supply/demand balance to strengthen in 2024 and weaken in 2025. Supply is estimated to grow by 2-3% in 2024 and 1.5-2.5% in 2025, while demand is projected to grow by 2.5-3.5% in 2024 and stagnate in 2025. Overall, conditions in the dry bulk market should stay strong in 2024 but could ... Please follow the link to continue reading.

Supply

Our forecast for fleet growth in 2023 has been adjusted downwards as it appears that more ships planned for delivery in 2023 than expected have been delayed until 2024. In addition, recycling has progressed more slowly than we expected. We now forecast fleet growth of 7.0% in 2023. On the other han... Please follow the link to continue reading.

Supply

We have revised our fleet growth forecast to 7.9% in 2023 and 7.8% in 2024. Year-to-date, the total TEU capacity of ships delivered from shipyards reached a record high. Shipowners have, however, continued to order new ships and the order book has remained only marginally smaller than the record 7... Please follow the link to continue reading.

Supply

The dry bulk fleet is expected to grow by 2.8% in 2023 and by 2.1% in 2024. However, supply might grow by only 1-2% in 2023 and 2024 due to lower sailing speeds. Between January and July, bulk carrier newbuilding contracting fell 10.7% y/y, which caused the orderbook to slip to 7.7% of the dry bu... Please follow the link to continue reading.

Demand

We forecast dry bulk demand to grow by 2.5-3.5% in 2024 and stabilise at between -0.5% and 0.5% in 2025. Cargo volumes are expected to grow by 0.5-1.5% in both 2024 and in 2025. That is a positive upward revision of 0.5 percentage points for 2024 since our previous report, due to a strong first qua... Please follow the link to continue reading.

BIMCO COVID 19 weekly report

The BIMCO Maritime Information department informs members on a weekly basis, updates about the COVID-19 in relation to implementation measures imposed by governments for sea transport including for crew change as well as from the United Nation bodies like the International Maritime Organization (IMO... Please follow the link to continue reading.

Macro environment

Houthis have continued to attack ships in the Red Sea and the Gulf of Aden. At the time of writing, 62 ships have been attacked and the ship capacity transitting the Suez Canal is 90% lower than last year. The combined volume via the Suez Canal and the Cape of Good Hope is, however, on par with last... Please follow the link to continue reading.