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BIMCO is seeking to drive the improvement of standards for ships at dry bulk terminals across the world and has today launched its first report on terminal performance.
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to work in China is not enough to support the market.
The dry bulk market faced a lot of headwind in 2015 as dwindling demand and over-supply created very unfavourable market conditions. 2016 has shown no improvements so far and prospects for the rest of the year are not looking promising. With poor earnings across the board the average scrapping age has dropped among all the dry bulk segments.
The 2017 half-year result of the dry bulk terminal vetting is ready. New reports have been added to the database by ships after each port call.
One year ago the dry bulk orderbook stood at 276 million DWT – today it totals at 277 million DWT. As if the dry bulk orderbook wasn’t large enough back then
The preliminary amount of dry bulk tonnage being demolished during the first half of 2015 is 20 million DWT. So could we be heading for a new demolition record level in 2015?
Recycling of overage dry bulk tonnage is unlikely to make huge impact on future fleet growth according to new analysis from BIMCO.
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 ..
It looks like 2018 will be a year that shipowners should take advantage of, as the dry bulk fleet is likely to grow at the slowest pace seen since 1999, and BIMCO sees global demand growth outstripping supply growth in 2018.
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.
