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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
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.
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.
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 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.
The mechanism supporting the generation of reports has changed since version 4. The development team is currently making the necessary adjustments so full reports are once again available. This is expected in the second quarter of 2021.
The healthy demand picture of some 6% demand growth is what keeps the dry bulkers afloat. Despite the multiple disruptions that have already taken place, we see growing demand for almost all commodities. This has certainly prevented a meltdown of freight rates. Many people expected the current doldrums already last year, but extremely strong demand growth in 2010 postponed the hardship into 2011.
