Global Dry Bulk Shipping Industry: An Analysis
Despite economic recession, the fundamentals of the dry bulk industry remain attractive with demand for dry bulk commodities continue to be positive.
The primary driver for the dry bulk shipping industry continues to be sustained demand in East Asia led by strong demand for commodities in China and increasingly India.
China’s infrastructure building programs as per its 11th Five Year Plan will continue to drive demand for steel and that in turn will stimulate demand for iron ore and coal. Driven by infrastructure spending by the government, over time, China has become the epicenter of dry bulk demand.
With China’s import of 2 billion tonnes of iron-ore, coal and grain in the year 2007 and its steel production increasing by 16.5% in the same year, the global dry bulk industry is expected to continue its growth momentum, albeit at a slower rate in the next few years.
Further with high growth of Indian economy and scarcity of its natural resources, India is likely to continue its demand for dry bulk commodities.
The demand for two commodities - coal and iron ore will drive the dry bulk industry in the near future. As the demand for steel is growing, especially in the Asian countries, iron ore is expected to see the highest growth among the dry bulk commodities. Further, coal is also likely to be much-in-demand commodity with new power plants being installed in the Asian countries.
The report analyzes the global seaborne dry bulk industry with a focus on major commodities like iron ore, coal and grain. It assesses the factors that are influencing the demand and supply of dry bulk vessels. Further, the major growth drivers that will have an impact on the future growth of the dry bulk industry have been analyzed in the report. The competitive landscape of the dry bulk shipping industry has been presented in the report with a focus on six leading carriers including DryShips, Diana Shipping, Excel Maritime, Navios Maritime, Genco Shipping and Eagle Bulk.
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