These are very helpful cargoes due to their lengthier ton miles, and these cargoes continue to add support to the dry bulk shipping market. In the near term, China's coal imports from most exporters other than Australia are poised to continue to grow as China continues to have a shortage of both thermal and coking coal. The thermal coal ...
C hina's seaborne coal imports have grown by % during the first five months of 2023, marking a significant shift in cargo flows and demand for dry bulk carriers. In its latest weekly report ...
China is driving the rise in global dry bulk congestion, comprising more than a third of the total, said Ristic. Bulker congestion in China hit million DWT in midAugust, representing 6% of global capacity, up 28% from midJuly and 23% year on year. Bulker congestion was also high outside of China, but in line with seasonal norms.
Demand. In our base case scenario, we expect global dry bulk cargo volume to grow between % and % in 2023 and between 1% and 2% in 2024. Average haul is expected to increase between % and % in 2023, driven by sanctions on Russian coal and higher iron ore and grain shipments from Brazil. In July, the IMF forecast the global economy ...
The Platts Capesize T4 Index, a global tonmile weighted average index of four Capesize routes, stood at an average of 14,481/d in Q2, down from an average of 17,848/d in Q2 2022, SP Global Commodity Insights data showed. Similarly, the Platts KMAX9 Index, a global tonmile weighted average of nine Panamax routes, was at an average of ...
Despite the predominantly negative shortterm outlook held by many market participants, coal trade flows may remain healthy and support dry bulk rates to a certain extent, amid Europe's energy supply crisis caused by the RussiaUkraine conflict. "Coal demand will remain strong for at least another year," commented a third shipoperator.
The dry bulk shipping market has seen increased strength. The end of November has been exceptional for the capesize market, consistently gaining traction. The Pacific market kicked off the week with strong momentum, with all the major players from West Australia to China actively participating.
NEW YORK, Jan. 17, 2022 /PRNewswire/ 57% of the growth will originate from APAC for the dry bulk shipping market. China and India are the key markets for the dry bulk shipping market in the ...
Source: Global Times. China's gross ocean product in the first three quarters of 2023 grew by percent yearonyear, reaching trillion yuan (1 trillion), showcasing a steady recovery, data from China's Ministry of Natural Resources (MNR) showed on Monday according to preliminary calculations. FULL STORY.
This is pushing the expected growth in global oil product shipping up to doubledigit levels in 2023, while tonnage demand will increase by just 4%. Similarly, crude trade is being pushed up and to a much lesser extent this also impacts dry bulk shipping (coal, iron ore). Oil product shipping demand will see a continued rebound in 2023
However, mainland China's stable demand is expected to continue supporting dry bulk shipping moving into the next quarter. More upside risks are there over Q2Q3 2022 with limited fleet supply and ongoing pandemic related inefficiency in port operation, and stronger containergeneral bulker market's spill over impact into geared bulkers.
South Korea has suspended coalplant load restrictions. France may restart one of its coalfired plants this winter. Japan will start up one in August. China is building multiple new coalfired power plants. Among those that stand to benefit: mining companies exporting coal and international owners of dry bulk carriers.
Rates for Capesizes — larger dry bulk vessels with capacity of around 180,000 deadweight tons (DWT) that carry iron ore, coal and bauxite — averaged 54,600 per day on Monday, according to ...
The Global Dry Bulk Shipping Market is projected to reach USD XX Billion by 2028 from USD Billion in 2021 at a CAGR of % during the forecast period. The major factors driving the growth of this market are the increasing trade volume and an increase in demand for commodities such as coal and iron ore around the world which led to increased investments in dry bulk carriers over the past ...
08/11/2023 at 14:28 Bulk China's imports of coal and other dry bulk goods soaring Overall, China's dry glass imports have grown this year, but while coal imports have increased by 73%, steel, cement and wood imports have fallen behind, Braemar writes.
Regional Outlook. According to the latest dry bulk shipping market forecast, Asia Pacific is anticipated to account for largest share from 2023 to 2031, followed by Europe. Growth in trade activities in China and India is driving the dry bulk shipping market share of the region. China has strengthened its position as the dominant player in bulk ...
The Baltic Exchange's dry bulk sea freight index B BDI, tracking rates for ships carrying dry bulk commodities plunged on Tuesday, snapping an eightsessionlong winning streak, dragged down by lower rates for capesize and panamax vessel segments. * The overall index B BDI, which factors in rates for capesize, panamax and supramax shipping vessels, was down 203 points, or %, at 3,143.
Capesize bulker spot rates jumped on Tuesday to reach a new fourmonth high as China's demand for iron ore and coal remained robust. The Baltic Exchange's Capesize 5TC basket of spot rate ...
Coal flows from the US to China have been very modest in recent years. They peaked at over 1 mln tonnes in February 2017, and since then have been on a declining trend, averaging less than mln ...
Asia's dry bulk shipping market has found support from robust coal demand from Vietnam and China as well as plentiful iron ore flows to China, despite COVID19 pulling down consumption in other pockets, Vivek Kumar, managing director of Western Bulk Pte Ltd. told SP Global Platts in an interview.
Dry bulk stocks plunged. While spot rates for Capesizes (bulkers with capacity of around 180,000 deadweight tons) held firm at 53,800 per day, forward freight agreement (FFA) derivatives did not. Amid what one broker called "mayhem," the Q4 FFA contract sank to 36,750 per day, with the December contract all the way down to 29,500.
Baltic Capesize Index up by 26%, although dry cargo sector remains volatile. By Rob Willmington. Increased activity in the Atlantic basin and port disruptions caused by typhoons in Asia have driven up capesize rates by up to 5,000 per day, while the panamax sector has also seen healthy increases. Dry Bulk Capes. 02 Aug 2023.
China's failure to overcome its economic headwinds will cost one percentage point of demand growth for dry bulk shipping, according to BIMCO's estimates ... Panamaxes could be most exposed to rate volatility next year as coal demand slows. 30 Nov 2023; News;
Dry Bulk Shipping Market Size And Forecast. Dry Bulk Shipping Market size was valued at USD 15, Million in 2022 and is projected to reach USD 20, Million in 2030, growing at a CAGR of % from 2024 to 2030.. The rise of seaborne trade, as well as an increase in iron ore and coal transportation, are predicted to drive demand for dry bulk shipping.
The source said scheduled maintenance on Daqin railway in October a major transportation network moving coal within China may potentially result in Chinese buyers turning to seaborne coal, which may spur dry bulk shipping rates in Q4.
In contrast, this year's high Chinese domestic production is being complemented by higher imports, a plus for dry bulk shipping. China imported million tons of coal in the first seven ...
The shipbroker said that "in the first 9 months of 2020, China imported mln tonnes of coal by sea (including both thermal and coking), according to vessel tracking data from Refinitiv.
In the dry bulk shipping market, vessels below Panamax mainly are used to transport grains and other crops, which are commonly used on shorter routes. ... mainly for iron ore routes of BrazilChina and AustraliaChina, as well as various longhaul coal shipments. This type of ship is mainly used to transport coal, manganese ore, iron ore, and ...
The high level of deliveries for handy bulkers in 2021 is not a concern as it represents just % in gross fleet growth. Now consider that there was a total of 39 handy bulkers retired in 2020 ...
According to BRS, dry bulk volume to China in the first half of 2022 fell % year on year amid COVID lockdowns. Capesizes have "unperformed on the back of easing [port] congestion, China's slowing appetite for iron ore and coal, and weather and COVIDrelated supply disruptions in Brazil and Australia, respectively."
After a robust bull run which started in April 2021, dry bulk freight rates across vessel segments have fallen steeply on the back of easing port congestion in China, falling Chinese steel production as well as the sharp drop in iron ore, thermal coal and other raw commodity prices.
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