Project Description
In April, the overall dry bulk trade experienced a decline of 1.8%. However, this decrease follows a significant growth of 10.4% in March, indicating a high baseline. Analyzing the areas of strength and weakness, coal volumes saw the most substantial declines and are notably lower compared to the same period last year. Conversely, the minor bulks of agriculture, fertilizer, steel, and forestry have shown considerable strength. These commodities have performed exceptionally well in the first four months of the year, driving much of the overall growth.
The majority of the decline in steam coal was observed in the Far East, with only modest decreases in the Indian subcontinent. In contrast, the rest of the world maintained consistent levels of coal trade. The increase in grain trade can be attributed to a strengthening market, with all grain types performing better than at this time last year. Soybean, maize, and wheat crops have collectively shown strong performance in the first half of the year, providing significant support. The Supramax vessels loading grain in the Atlantic have been particularly robust compared to previous years, highlighting a strong sector performance.