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August 02, 2017

Drewry expects firm demand to propel dry bulk shipping recovery

According to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry dry bulk shipping charter rates will continue to recover thanks to firm demand and controlled fleet growth.

Drewry says tonne mile demand will grow at a healthy pace of around 3% annually over the next five years while fleet supply is expected to expand at a rate of just 1% a year over the same period. The slowdown in fleet growth can be credited to low deliveries because of a thin orderbook and high demolitions resulting from the upcoming environmental regulations.

Demand will improve with the strengthening of iron ore, coal, grain and minor bulk trades. The rise in infrastructure activities in China will support imports of iron ore and other minor bulk commodities.

Source: Drewry