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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.
The fleet is growing at the slowest pace since 1999, and solid growth in demand means that the dry bulk shipping industry should be facing another year of improvement to the fundamental balance.
The Worldwide Threat to Shipping Report covers 30 days of analysis, reports and information to ensure ships and ship operators are aware of current and emerging security threats. The Weekly Piracy Update Report is a weekly overview of recent security incidents. Both reports are issued by US Office of Naval Intelligence (US ONI).
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.
Demand. The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing short of extraordinary. But, putting it into perspective, compared to the devastating freight rate levels over the same period, it highlights that something is very wrong in the dry bulk market. The market is nowhere near balanced.
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, which is going through some interesting times right now. European coal demand has been in a slump ever since early 2009,
The flooding in Queensland is primarily affecting the important coal export from Australia. Iron ore which is exported out of West Australia is not directly affected yet
RightShip and INTERCARGO have today announced the launch of an important new quality standard for the dry bulk sector, DryBMS. The standard will be governed by a new NGO to be established later this year and will support the improvement of safety in the dry bulk segment.
Read the latest digest of maritime security incidents.
