After an unusually strong start to the year, seasonality has caught up with the dry bulk market. Coupled with a slow recovery in global economic activity, it looks set to be another challenging year.
BIMCO has issued two new standard contracts of affreightment (COA) for dry bulk cargoes – one that can be used with different voyage charter parties and another that includes all terms and provisions usually found in a COA.
The amended IMSBC Code for carriage of dry bulk cargoes will enter into mandatory force on 1 January 2019. What are the amendments that would impact members’ dealing with these cargoes? BIMCO gives the rundown of these amendments.
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all ship classes expected to cover their operating costs by May. Meanwhile, demolition activity isn’t enough, at least thus far, to offset oversupply of tonnage in the dry bulk market.
In poor freight markets you might think that vessels were being recycled at a younger and younger age, but looking into the data a different story reveals itself.
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shipping of grains.
China’s property market is estimated to account for approximately 35% of the country’s steel demand. It is an important driver for economic growth and raw materials like iron ore, coking coal, wood, and cement. Overall, the Chinese economy is a significant driver of dry bulk and more than 35% of dry bulk volumes are destined for China.
A ”W-shaped” market in the making, but spiced up with frequent congestion. Demand: Following the market meltdown in 4th quarter 2008, demand has surprised on the upside since China in February initiated ..