Dry Cargo Market

Dry Cargo Chartering Market cannot be rigidly divided into separate segments, but it is possible to identify local and worldwide business arenas. All-embracing world-wide international dry-cargo market has its rough divisions, according to:

  • Ship type
  • Ship size
  • Commodities

Geographical markets exist that concentrate on regional trades, often specializing in:

  1. coastal or short-sea tonnage
  2. deep-sea tonnage

One example of a highly-sophisticated international chartering arena is that developed around specialist heavy-lift shipping business, although from time to time ships may be employed in this sector that would more commonly be found in another market. Alternatively, there is a reefer market, comprising refrigerated ships and refrigerated cargoes only. There is no single geographic center, since this chartering market-place is truly international, business being conducted by:

  1. Word of mouth
  2. Telephone
  3. Facsimile (Fax)
  4. Electronic mail (E-Mail)
  5. Telex

In order to participate in chartering market, participants need a ship or a cargo, appropriate communication equipment and a lot of courage. Even so there was time when such wonders of modern communication equipment were not available and freight markets therefore developed around traditional shipping centers. Today, many of these historical shipping centers remain active in dry-cargo shipping and participants are likely to maintain offices in places such as London, Oslo, Hamburg, Piraeus, New York, Singapore, Hong Kong and Tokyo. There are also regional centers, such as Paris, Sydney, Bangkok, Montreal, Rio de Janeiro, Stockholm and Seoul.