Eagle shareholders vote in favour of merger with Star Bulk

In 2024, supply and demand have improved, but BIMCO anticipates market declines in 2025-2026, depending on ship returns to the Red Sea.

Ukraine’s dry bulk exports are expected to drop in 2025 due to a 19% decrease in maize yields, contributing to stagnation in global grain shipments.

The Panama Canal saw 9,944 transits and 423 million tonnes CP/SUAB in FY 2024, a significant drop due to drought, with dry bulk carrier transits down 107.2%.

Inefficiencies in the trading fleet have been a source of significant support to the dry bulk market this year, propelling gains in asset values.

Dry bulk shipping has grown significantly from 2013-2023, driven by advancements in technology, increased raw material demand, and changing trade patterns.

BIMCO: Between January and August 2024, the number of recycled ships dropped 42% y/y, the second lowest level in 16 years.