Great Eastern Shipping Company (GE Shipping), one of India’s largest private shipping firms, has expressed optimism about a recovery in the dry bulk shipping segment, while maintaining a cautious stance on tanker freight rates, which are expected to remain largely flat in the near term.
GE Shipping sees dry bulk recovery
According to company representatives, the dry bulk market is showing promising signs of revival. Increased demand for commodities like iron ore and coal, coupled with easing port congestion and supply chain normalization, is helping lift charter rates for dry bulk vessels. These factors are driving improved vessel utilization and earnings, creating a more favorable operating environment for dry bulk carriers. GE Shipping anticipates this positive trend to continue, supporting gradual but steady recovery through 2025.
Dry bulk shipping rates have started to recover, but tankers remain in a soft patch, according to G Shivakumar, Executive Director and CFO at Great Eastern Shipping (GE Shipping).
“Dry bulk is seeing a little bit of a recovery… but not a huge amount,” he said in an interview with CNBC-TV18, adding that overall pricing across segments is largely steady compared to the March quarter.
Tanker markets, which typically weaken in the summer, had already missed the usual winter strength this year, Shivakumar noted. “We did not have a strong winter. So markets are marginally weaker in some sectors for tankers,” he said, pointing to seasonal trends and softer oil trade as key reasons.
Click here to read the excerpts of the interview.
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Source: CNBC TV18
