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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
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-even point, though not high enough to make up for losses made during the first part of the year.
Iron ore provides 30% of the demand for the dry bulk market and, during 2016, its related tonne-mile demand went up by 6%. This was the key factor behind the overall demand side growth of 2.2%.
China’s continued hunger for iron ore for its steel-making industry, alongside coal imports, is expected to become stronger in 2013.
The CONGENBILL is a charter party bill of lading for shipments of general cargo under the GENCON charter party. The latest edition of this bill of lading is CONGENBILL 2022 . Copyright in CONGENBILL 2016 is held by BIMCO.
The market conditions are devastating and volume growth in 2015 on key trades is negative. The lack of coal imports into China is taking centre stage, and lost volumes are difficult to make up elsewhere.
Total imports of iron ore and soya beans were lower in 2018 than in 2017, down 1% and 7.9% respectively, and although imports of coal grew 3.7% in 2018, this was slower than the growth in 2017.
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,
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