Business Monitor International reveals report on dry-bulk shipping sector
Business Monitor International has announced the launch of its special report on the dry-bulk shipping sector called ’Dry-Bulk Shipping in Troubled Waters as Glut of Vessels Soaks up Demand’.
The shipping industry analysis report provides an in-depth overview of the challenges that the global dry-bulk shipping sector faces in 2011, with a particular focus on the sector’s ability to tackle its current overcapacity crisis.
The dry-bulk shipping sector’s woes are expected to continue for some time to come, as dropping rate have already lead to Korea Line Corp filing for receivership, and there could be more victims if lines do not reduce capacity.
BMI’s special report on the global dry-bulk shipping industry provides industry professionals with independent analysis into the sector. The report assists in identifying the opportunities and threats to businesses, whether they are a dry ship operator/owner, a dry-bulk terminal operator, a shipyard, a commodity producer/importer/exporter, a logistic firm, a consultancy or an investment bank with an interest in the sector.
BMI believes that despite growing imports of dry-bulk commodities, supply will continue to outbalance demand in the dry-bulk sector for some time to come. BMI expects overcapacity to remain the major concern for the dry-bulk sector over the medium term.
In supply terms, the outlook for dry-bulk is positive. In terms of commodities markets, Brazil and Australia continue to dominate the iron ore production, while global production of grains is expected to increase around 4% year-on-year (in particular, US corn, South American soya bean, Australian barley).
However - despite growing imports, supply will continue to outbalance demand. Global dry-bulk capacity will expand 14% this year, far outpacing a 6% rise in demand, China COSCO, China’s largest shipping conglomerate, has said.
The current global dry-bulk fleet stands at 7,957 vessels, according to Lloyd’s List Intelligence. There are 2,749 vessels on order, up 2,466 y-o-y, representing 34.5% of the current fleet. Of these, 1,555, about 20% of the current fleet, are due online in 2011. Given the current supply demand imbalance, this orderbook is certainly a cause for concern.
About Business Monitor International:
Business Monitor International (BMI) is a leading, independent provider of proprietary data, industry analysis, ratings, rankings and forecasts covering 175 countries, including Brazil analysis, and 22 industry sectors.
BMI’s customers and clients span more than 140 countries worldwide, including more than 400 of the Global Fortune 500 companies. Businesses, banks, financial service companies, governments, academia and research centres have all come to rely on BMI’s analysis, data and forecasts – and have done so for 25 years. The company was awarded the Queen’s Award for Export Achievement in 1997.
BMI is a wholly independent company, headquartered at Blackfriars, London, with foreign offices in Singapore and New York.
BMI’s corporate mission is to become the world’s No.1 Independent Information Provider in its field (Country Risk & Industry Research).
Business Monitor International was founded in 1984 by Richard Londesborough and Jonathan Feroze, the company’s joint CEOs, who both continue to play a full role within the company.
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