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The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
Market uncertainty due to slowdown in China
BIMCO explains the carriage requirements of UN 3077 environmentally hazardous solid bulk cargoes under the International Maritime Solid Bulk Cargoes ( IMSBC) Code.
It has been a joyride for Capesize owners in September. During that month, freight rates lifted from the USD 10,000-15,000 per day interval experienced from mid-June until the beginning of September, when the market caught fire in a big way.
Accidents including fatalities continue to occur in the cargo holds and adjacent spaces of ships carrying solid bulk cargoes and this is a timely reminder to members about the dangers of entry into enclosed spaces.
While the Capesize segment has been massively impacted by the coronavirus, the smaller dry bulk segments are starting to recover towards profitable territory, partly on the back of seasonally higher grain exports from South America.