Page 180 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΜΑΙΟΣ 2023

THE BULK CARRIER

A BRIEF REVIEW OF Q1 2023 Edited by Giannis Theodoropoulos
Based on data from VesselsValue

The bulk carrier freight market may not have started the year in the best possible way,
but since March, there has been a recovery, and the outlook for the rest of the year
is positive.
This optimism stems mainly from the supply front, as the orderbook represents approxi-
mately 7% of the current fleet. It is also confirmed by the public statements of Greek
shipowners, who say that the uncertainty about environmental regulations keeps orders
at low levels and brings smiles to the market. At the same time, the CII implementation
is expected to reduce ship speeds and, therefore, available capacity.
On the demand side, China is opening up to seaborne dry cargo trade, with coal and
iron ore imports registering a significant rise in Q1. At the same time, in the first
four months of 2023, Indonesia's coal exports to China are estimated to have increased
by 65% year-on-year. In addition, Chinese industrial activity has increased, boosting
demand for coal. In the following pages, we present the bulk carrier freight market
fundamentals for Q1 based on data from VesselsValue.

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