The demand for dry bulk goods is set to increase in the coming months, according to shipping industry analysts and economists.
Daily shipping news site IHS Maritime cited Peter Sand, chief shipping economist at BIMCO in Denmark, as saying: “The vital commodities, coal and iron ore, are both expected to be in higher demand in the coming months, enhancing owners' and operators' opportunities to find employment for their ships.”
He added that this should support freight rates, although no large-scale improvement to the fundamental balance was likely to develop.
"On the positive side, the longer-than-normal grain season in South America has benefited, primarily the Supramaxes, which apparently defy gravity as being the segment with the highest freight rates, while also facing the biggest increase in fleet size in the dry bulk sector. Additionally, strong steel exports out of China have contributed to higher Supramax fleet use,” Sand was further quoted as saying.
Maritime analyst, Drewry, also previously said that the dry bulk sector was anticipated to grow over the next two years.
