BIMCO recently said that 2018 is another year when the foundation of the dry bulk shipping industry is facing balance improvement, and it is now in an opportunity year.

BIMCO data shows that 2018 is expected to be the slowest year of fleet growth since 1999. Meanwhile, thanks to the steady growth of demand, the bulk transportation industry is expected to improve.

In January this year, the delivery of bulk cargo ships reached 4.8 million dwt, the highest level in the past 10 months. At the same time, the dismantling volume of bulk carriers is 700000 DWT, so there is a large number of delivery capacity in the bulk transport market. Despite the slowdown in fleet growth, global shipowners and investors have also signed more new orders in Asian shipyards.

BIMCO said that due to the decline in seasonal cargo demand, the bulk transportation market should be handled with caution in the first quarter of this year. In terms of freight rates, the bulk transport market in the second half of 2017 showed a good development trend for most of the time, and this growth reached its peak on December 12, 2017. At that time, the daily average rent of Cape of good hope bulk carriers was up to US $30475.

As of the end of January 2018, the freight rates of bulk carriers of various ship types were at the break even level, but they did not turn losses into profits. Although the crsl data studied by Clarkson shows that the overall maritime transport demand of the bulk transport market increased by 5.1% in 2017 thanks to the substantial increase in China's import volume. However, BIMCO believes that this strong demand will not be repeated in 2018.

BIMCO said that the overall demand growth of the bulk transportation industry in 2018 is predicted to be about 2-3%, including many uncertainties. This is not only the influence of transportation volume, but also the influence of transportation distance.

BIMCO added that with the fleet growth of 1.4%, the bulk transportation market is expected to improve.

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Source: international ship network

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