Dry Bulk Shipping Market Overview & Outlook

Coal shipments should be 2.3% higher in 2024 than in 2022 after rising 5-6% in 2023, but falling 2-4% in 2024. Coal shipments into China and India have surged year-to-date, despite these countries’ push to reduce import dependency by increasing domestic coal mining. However, electricity demand in both countries has risen due to growing economic activity, while unseasonably high temperatures have added further demand. Coal prices have also fallen, boosting its attractiveness to price sensitive importers. In 2024, coal shipments to the EU could fall further, due to a mixture of weaker demand and a push to transition to renewable […]