Supply and demand in the dry bulk sector is showing a clear upward trend, having weakened significantly at the start of this year, reports Dry Bulk Magazine quoting INTERCARGO data.
Positive prospects for supply and demand
Kostas Gkonis, Director & Secretary General of INTERCARGO, has said the sector’s prospects are positive in the medium term.
Within this global recovery, the Association is reportedly seeing a major contribution from China where a third of trade takes place, while inflationary pressures continue to dampen economic activity around the world and, as a result, are impacting the key trades of iron ore, coal, and wheat/grains. At the same time, a historically low orderbook, together with bulk carrier scrapping, mean only modest fleet growth of 2% is likely over 2023.
Looking to the future Gkonis has advised that shipping can no longer afford to be an activity “largely unperceived by the broader societal and economic environment.” Environmental, Social, and Governance (ESG) provide the toolkits for risk management in setting course into a sustainable future; a distinct narrative that is much larger than decarbonisation.
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Source: Dry Bulk Magazine
