Photo: Steve Halama - Unsplash A normally quiet time of the year for dry bulk shipping is seeing increased activity backed by slowing net fleet growth, signalling positive near-term earnings for the market, according to consultancy firm MSI.
Escalating recovery in demand for dry bulk commodities in countries on top of China, despite China currently celebrating Chinese New Year, has attributed to both rising consumption and restocking of raw materials. Earnings across all dry bulk segments have been firm in a period typically characterised by seasonal weakness, according to the latest MSI HORIZON Dry Bulk Monthly report.
“Aside from firming demand, dry bulk market balances continue to be supported by reduced productivity on the back of high port waiting times while anecdotally a surge in costs to ship via containers has also driven more breakbulk cargo to be moved in dry bulk carriers, box-shaped handysize tonnage in particular,” said MSI se