Positive course for the dry bulk market

Iakovos (Jack) Archontakis
Commercial Manager TMC MARITIME CO.

Dr. Fotios-Evangelos Karlis
Maritime Executive and Consultant

The dry bulk cargo market continued with a marginal decline as Capes fell, while the rest of the sizes showed an increase.

In the first 8-month period of 2023

In the first 8-month period of 2023, the newbuilding activity in the four main sectors, dry bulk, tanker, Container and Gas, shows a slight decrease (13% down) compared to the same period of 2022. As of 25th August, a total of 751 orders have been placed, with the Tanker market driving the newbuilding activity.

As worries about China's worsening

As worries about China's worsening property crisis and its effects on the economy grow, the real estate giant, Evergrande has been forced to file for U.S bankruptcy protection earlier this week. In the meantime, as China tries to revive economic growth post-pandemic, its central bank lowered the one-year loan prime rate and left the five-year rate unchanged, disappointing markets.

China, the world's second-largest economy suffered a sharp decline in exports and imports

China, the world's second-largest economy suffered a sharp decline in exports and imports in July in terms of value, adding to a prolonged trade slump.

ICS membership continues to grow with the Association of Panamanian Shipowners joining

The Association of Panamanian Shipowners (ARPA) has become an associate member of the International Chamber of Shipping (ICS).

Τhe war in Ukraine continues

Τhe war in Ukraine continues and there is nothing on the horizon that leaves hope for a de-escalation of tensions in the region.