Archive · 5 Jun 2025
Shipping Market Sees Dry Bulk Recovery, Tankers Remain Flat
Imagine ships carrying things.
Some ships carry dry stuff like grain, and some carry liquids like oil.
The company Great Eastern Shipping says that the ships carrying dry stuff are starting to do a little better.
But, the ships carrying liquids are still not doing great, especially since they didn't have a strong winter season, which usually helps.
Also, tariffs, like extra taxes on goods from other countries, are slowing down some trades.
Overall, the shipping company is seeing some impacts from a weaker economy.
The price to rent the offshore rigs has dropped a lot because there aren't many companies renting the rigs right now.
Dry bulk shipping rates are recovering slightly, while tanker rates remain weak.
Steel and aluminum tariffs are unlikely to significantly impact commodity trade.
US-China grain trade and US-China LPG trade have slowed down due to tariffs.
Oil demand growth and iron ore/coal trade have been weak, with some macro pressure.
Offshore rig pricing has dropped significantly due to factors like Aramco off-hiring.
- Who
- G Shivakumar of Great Eastern Shipping
- What
- Shipping rates in dry bulk are recovering and tanker rates are flat.
- When
- Interview occurred recently, discussing current market conditions.
- Where
- Not specified in the article.
- Why
- Seasonal trends and slower global growth are contributing to the market conditions.
- Source
- G Shivakumar, Executive Director and CFO at Great Eastern Shipping
- Dry Bulk Trend
- Dry bulk, a slight recovery
- Tanker Market
- Marginally weaker in some sectors
- Oil demand growth
- Weak
- Offshore rig pricing decrease
- More than 50% drop
- Number of short-term contracts for rigs
- 2
- Short-term rates vs long-term rates
- 50-60% higher