Dry Bulk Shipping Market Overview & Outlook Q4 2023
28 November 2023Muted fleet growth helps maintain market balance
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Muted fleet growth helps maintain market balance
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
Stronger dry bulk market outlook but recovery is fragile
Recycling of overage dry bulk tonnage is unlikely to make huge impact on future fleet growth according to new analysis from BIMCO.
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?
The dry bulk market is under immense pressure, as the retreating weight of China as the driver of the market is extensively felt. At a time when supply growth simply breaks new mind-blowing delivery records, the demand situation is pitching in a bit too. Currently, there are reports of Chinese customers in the steel industry that are refusing to honour their contract as prices drop, and stock piles are fuller than normal at a time when steel mills take their foot off the throttle following a red-hot production period in recent months.
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.
New high-quality reports have been added to the website as a service to our members.
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.