Dry Bulk Shipping market could even worsen in 2016 as India’s increasing self-sufficiency in coal defies. The oversupply of dry bulk tonnage is well known, with this year seeing the daunting prospect of 173 capesize, 199 panamax and 554 handymax newbuildings entering in and trading at all-time lows. The growth predictions for the five main dry bulk cargoes – iron ore, coal, grain, soya beans and other minerals -add up to zero. In 2015, seaborne trade in the five main bulk car-goes aggregated 3.1 billion tonnes. That level is expected to stagnate in 2016.
Nor do things look much better for the minor bulk trades, which the broker estimates are expected to grow by just 2% in 2016.
All eyes have been on China’s iron ore imports, which are set to fall by 2% this year in line with the country’s declining steel production.