Dry Bulk Shipping Market Overview & Outlook January 2024
24 January 2024Energy transition curbs demand growth
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Dry bulk and tanker newbuild contracts 20% higher than 2016
23 June 2017BIMCO expected newbuild activity to pick up, so the recent development is not surprising. It is however not what the industries needs. As the dry bulk -, crude oil - and oil product tanker shipping sectors are all struggling with very low freight rates, it is important that the recent development in contracting activity reflects a short-term trend.
Record recycling activity stirs optimism in dry bulk
21 September 2011In absolute numbers, 2011 is going to be the new Number 1 in terms of the greatest amount ever of dry bulk tonnage leaving the fleet to be recycled. We are on course for more than 20 million DWT to be demolished, with the potential of reaching 25 million if owners continue to be attracted by the relatively high demolition rates and freight rates fail to improve significantly through the remainder of the year.
Dry bulk scrapping age keeps moving upward
12 March 2012In poor freight markets you might think that vessels were being recycled at a younger and younger age, but looking into the data a different story reveals itself.
BIMCO President speaks on the “road to recovery” for the dry bulk market
31 May 2016“Scrapping ships and no new builds is the fastest road to recovery for the dry bulk market” BIMCO President Philippe Louis-Dreyfus comments on BIMCO’s latest market analysis
Dry bulk contracting comes to a halt while demolition is on the rise
22 March 2016With 12 weeks of 2016 behind us, the dry bulk market is still looking bleak. As the current low demand for transportation of commodities continues, the market is doing what it can by scrapping old ships and restraining from ordering new ones.
Amended Dry Bulk Cargoes Code enters into force soon - members to get ready!
31 October 2018The amended IMSBC Code for carriage of dry bulk cargoes will enter into mandatory force on 1 January 2019. What are the amendments that would impact members’ dealing with these cargoes? BIMCO gives the rundown of these amendments.
Dry Bulk Shipping: No more room for newbuilds
31 May 2018The dry bulk shipping industry remains on the road to recovery, as demand continues to keep its nose just ahead of fleet growth, while scrapping and ordering remains subdued.
Dry Bulk Shipping: Q4 provided optimism, Q1 will make sure we don’t get carried away
30 January 2017Iron 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%.
Dry Bulk Shipping: Improved freight rates despite continued fleet growth
06 May 2016On 10 February 2016, the Baltic Dry Index (BDI) hit 290. At that point, a bulk carrier regardless of its size, age and fuel-efficient qualities earned a time charter average of USD 2,417-2,776 per day.
