Global iron ore shipments increased 3.8% Y/Y, according to BIMCO
NewsGlobal iron ore shipments rose in Q1 2024 but with Chinese steel production weaker than expected, future shipments may decline due to oversupply.
Bulking down and seeking a niche
StandardDry bulk shipping remains under pressure, with many firms seeking new survival strategies as the shadow of consolidation looms large.
Even though prospects in many sectors of the dry bulk shipping industry have improved this year and 2018 appears promising in most analysts’ forecasts, operating pressures remain intense and fiscal returns inadequate. Consequently, the pressures for some sort of consolidation in the industry are expected to continue.
This year has seen a significant improvement in the fortunes of companies engaged in the dry bulk shipping industry, with the number of fixtures well up on 2016 levels, and daily charter rates, especially for Capesize and Panamax tonnage, substantially higher.
Even owners of Handymax/Supramax/Ultramax tonnage have shared in the recovery as the trade in various minor bulks has also improved. Since the late summer, daily charter rates have attained some of their highest prices in more than four years, rising from US$6,000/ US$9,000 a day to US10,000/ US$13,000 a day in November.
Strong index
Do you want to read the full article?
Register to continue reading
By registering you will have:
- Access to all Premium content
- Discount on selected events
- Full access to the entire digital archive
- 10x per year Digital Magazine
Having problems logging in? Call +31(0)10 280 1000 or send an email to customerdesk@worldcargonews.com.