Coal shipments to India rose 10% y/y

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

Liquified natural gas is unlikely to displace coal in China’s energy transition, as the country prioritises domestic energy sources over imported LNG.

Drewry forecasts a 3.3% rise in Capesize shipping demand in 2024, driven by increased coal exports from Colombia to Asia, offsetting reduced European demand.

Between January and August 2024, Chinese seaborne dry bulk imports rose 6% y/y, driven by inventory build-up, despite domestic concerns.

Grain exports from the US are projected to increase 12% in 2024, driven by a rebound in maize shipments, aided by normal Mississippi River water levels.

In early 2024, dry bulk newbuild contracts dropped 34.2% despite favourable conditions, while second-hand sales rose 11.7% amid rising prices and uncertainty.