Dry Bulk Shipping Market Overview & Outlook April 2024
Key highlights include:
- Supply is forecast to grow 2.5% in 2024 and 2.0% in 2025. Supply growth is slowing due to lower deliveries
- Demand is forecast to grow 3.0% in 2024 and stabilise in 2025. Sailing distances have lengthened due to the rerouting away from the Red Sea and Panama Canal
- Iron ore shipments are estimated to grow 2.5% from 2023 to 2025. China may experience low domestic steel demand, but stronger demand abroad
- Ship recycling is expected to stay low. However, it may gradually increase from the start of 2025, due to a comparatively weaker market.
Read the full container market overview and outlook analysis on our website:
www.bimco.org/analysis
