The dry bulk shipping industry anticipates cargo demand growth between 2.5-3.5% in 2023, with a gradual slowdown to 1-2% in 2025. Iron ore shipments are projected to increase, driven by steel demand, while coal shipments may decline due to the global shift away from coal. China's economic slowdown poses risks, and interventions in response to the real estate crisis could impact dry bulk demand. Minor bulk cargoes are expected to rise, supported by the energy transition. The dry bulk fleet is set to grow modestly, with potential impacts from climate regulations. Overall, supply/demand balance is expected to tighten in 2023 and 2025, with freight rates showing positive signs, especially for capesize ships.

SOURCE: GOOGLE