What is the dry bulk market?

What is the dry bulk market?

Dry Bulk Shipping Market: Introduction Dry bulk shipping is the movement of major commodities carried in bulk, or lot, including iron ore, coal, and grain together with ships carrying steel products including steel plates, steel rods, and iron ore. Lumber or log and other commodities are classified as minor bulks.

What are the five 5 major dry bulk trades?

Dry cargo, including (a) the five major bulk commodities (iron ore, coal, grain, bauxite and alumina, phosphate rock), (b) minor bulks (forest products and the like), (c) containerized trade, (d) general cargo/breakbulk, accounted for the largest share (70.2 per cent).

What is dry cargo market?

The Dry Cargo market relies on a wide range of vessels and covers all the world’s major trade routes. It is dominated by three core sectors: iron ore and steel related products; coal bound for steel plants and power stations; and food stocks.

What are the major dry bulk cargoes?

Major dry bulk trades include iron ore, coal, grain, bauxite, sand and gravel, and scrap metal. Liquid bulk or tanker cargos include crude oil and petroleum products, chemicals, liquefied natural gas (LNG), and vegetable oil.

What is the future of dry bulk shipping?

Dry bulk supply With limited newbuilding contract and orderbook, dry bulk fleet growth will slow to 3.4% in 2021, 2.3% in 2022, compared with 4.1% in 2020. With favorable freight rates, some shipowners triggered the options of existing contracts with much lower contract prices.

Will freight rates go up in 2022?

After a year in which freight rates continued to set new highs, spot rates are on the decline in 2022 with experts pointing to a series of factors likely contributing to an ongoing decline.

Which is an example of dry bulk?

Some examples of major dry bulk commodities include iron ore, coal, and grain. These major bulks account for nearly two-thirds of global dry bulk trade. Minor bulks include steel products, sugars, cement, and cover the remaining one-third of global dry bulk trade.

How many dry bulk carriers are there in the world?

As of December 2020, the total dry bulk vessel operating fleet was 12,312 vessels, with a cargo capacity of 912.2 million deadweight tons (dwt), according to Drewry Shipping Consultants Ltd.

What are examples of bulk goods?

Items such as oil, grain, or coal are all examples of bulk cargo. Bulk cargo is classified as either free flowing, a liquid, or a dry item. This type of cargo is typically dropped or poured as a liquid or solid into a merchant ship, railway car, or tanker truck.