Anastasios C. Margaronis
you, this a warm Inc. Diana welcome earnings to and the Maria, of Thank Shipping quarterly participants further and call of annual
at erratic market and to update an the increasingly The look market increase quick has the instability. become and it. A bulk on this dry paper volatile helps market
of the X,XXX months or year we time $XX,XXX to charter Dry at only trend, rates index the of The cite day in in in a January lows and for so. a last high dropped highs at scrubber-fitted March of last of high evidence March $XX,XXX day. for Capes a end dry market As of this over of the per hit this ship XX year the Baltic and a have January, XX-month 'XX and reached stood XXX. bulk
was day. the was year of the December March $XX,XXX per reached per in of day in and of last Kamsarmaxes, high For last year low $XX,XXX
day figures in day to Ultramaxes, February were XXXX, dropping per last in of For $XX,XXX $XX,XXX the December year. per
as coal drop For ARO identified second in XXXX as ] and have sharp a energy the half grain the during well shipping shipments [ time of being, shipments.
account trades shipments, quarters, is next surprise the that quarters. X less earnings over future much Panamax it these the to least shipments are expected for last no shipments trend so dropped the At increase grain certain. XX% is few of of while much over As nearly coal
at this is are provided macroeconomic and very are on world Looking small slide. in around at encouraging to development. side, XXXX IMF latest XXXX. is in expected projections X.X%. growth that economies in performance come a record And China's on recession this of in the of shown it expected growth depends positive The year much to number the be major to GDP world by now countries the growth. Market note for
the U.S., are and year for X.X% the this this for For and projections for X% while XXXX. are year X.X% XXXX, in the projections Europe, X.X% in
look at demand. The so in Mexico, X.X% by commodities Korea. Russia next. is -- Vietnam, by being compared A far forecast China in to growth year, this anticipated X.XXX to for projected India years. now. to is in seen [ to in The growth Optimal drops as to next Steel largest a policy India ] particularly steel with while to major brief bright Turkey, dropped grow X.X%, commodities dropped According China year to output XXXX production production at in Services, Shipping provide tons. anticipated and World industrial bulk largest X both XXXX trade South support Brazil, year and is in in X% by have to dry year-on-year. spot infrastructure X.X% remains this Global and increases expected seen during later monetary looser last and has were the tied billion domestic the were
by after X% about year in expects in showing will Grain further to thermal even in Ukraine. XXXX. shipments Clarksons by expected and are by tons war grow the during good coal by to X%, season grow performance X% are in shipments XXXX Shipments depend of much though expected on XXXX grain X% this drop XXXX. X% billion X.XXX to to a
coal However, eventually, depend economies demand Pacific in and power rapidly. which for grow Asia other still on supply China region for as is demand increasing emerging the might heavily
Walcott, beyond. this loading by where expected the ore congestion major up. ports bulk as build in in disrupted to growth remain Australia, cornerstone the sorry, Increased now analysts I'm supporting and the -- increase and and the transition to aluminum in cyclons anticipated are Dampier to is Iron billion X.X minor and are year will trade, will tons. which Port global remain factor Demand positive bulk of beginning in and the shipments, by the Hedland, be bauxite are energy drop to XXXX being main in by Port in of minor recovery shipments X% trade, such major bulk economic affecting XXXX X% steady by XXXX and
shipments. represent Total Clarksons in increased has of over will to XXX.X bauxite tons, of which XX% trade million The in shipments by share Capes are bauxite -- XX% year-on-year in the estimated to the at share increase. come total just XXXX
to demand. Turning
bulk by global year-on-year, balance shipping for expect dry this the grow an by with demand about analysts year, about softer increase anticipated fundamental Now X% sector. to to overall to in supply X% leading
such However, several as fitting special reduce energy-saving speeds, to greater discrepancy. and this slower surveys improvements off-hire factors time could due help
Looking be mile. increase XXXX, are approximately modest expected carrier to around to with X% to expected Bulk in demand anticipated fleet to growth ahead earnings ton X.X% and be
is in So growth decrease better bulk carrier XXXX limited than it to million demolition too far attributed an delivery. early XXXX, mostly make a XX of fleet might to year any earnings newbuilding to a in expected, be in in slightly and is forecast. but deadweight about tons XXXX, increase
deadweight newbuilding fleet. million or in are size particular, at book development. fleet on covering the slide, most order, $XXX.X Kamsarmaxes, about Panamaxes, XX.X deadweight of the nearly is next representing the XX% to broadly existing of existing ordered million XX.X% fleet. The the Moving order
the As remained in in million XX% Clarksons or fueling volume of tonnage out, the of around total. deadweight point focus about XXXX a XX transition contracted, alternative fuel-capable with record
to of fuel much alternative this necessary required from road, at some receive with greatly credit cost be outlays minimum being alternative readiness prepared will time which the most to differs of the the ship, However, sort tonnage down for modification. larger fuel ship
by fleet XXXX. by million the According by X million Braemar, to tons year this tons expected statistics to in X grow about prepared deadweight Capesize is and about
All in X deadweight XXXX next deletions, XX.X and this year of X.X XX from XXXX. this deadweight by Clarksons are figures and are million grow given fleet. expected the X in deletions in million by are are The XXXX. For Talking by for Panamaxes, figures Ultramaxes in to to million the year expected demolitions above of million tonnage net Kamsarmaxes year. XX expected million and reach about million and
according facing available vessels since the been XX% dropping affecting together the market, least well decision XXXX, tonnage Capes. of weather the the the BIMCO tonnage. state ore years that in is now over Since Panamaxes to Supramax it levels, has scrap to like worth Clarksons, XX% factors in old to age as freight of and could are increase is as is iron stabilize and Handymax XX% sentiment of the of XX course, one of noting with of expected boosting we Congestion gradually Australia loading current although of temporarily. extreme thus around conditions at supply that port congestion
the asset and to defined are, time of prices newbuilding ranges. market As regards across values, for the firm freight being, size remain the trend the
by XXXX showing are level. $XX Capes of the Similar have increases the years, Handymax. they freight July According returned in increase. prices X.X% with year-on-year secondhand next gradually $XX.X rates. with X at XX% at last weaken for early million, BIMCO year-on-year to seen million a to expected together peaking year, increased to After Kamsarmaxes over are
bulker This over quarters. X-year-old a expected sell is the XX% January, of new a in downward would continue about to trend few price of build. the example, next an As on average
XXXX, on a of on Modest the demand. to unknown rate Finally, in A softer so. or tons in outlook. supply billion is remain years the tariffs future dry bulk new dry be XXXX. by in to turning of significant Canada U.S. dry moderation the bulk market from The commodity market mainly over the XXXX help the is major exports year administration, grain Mexico, in shipments either next X levels in minor and China, a expected course balance countries' will dry trade Overall, market seen supply the or other role steady major and play to bulk demand. the drop growth to representing due disrupt effect possible of factor a somewhat primarily most bulk might trade. U.S. which maintaining the and shipments between than the bulk determining about X.XX Nevertheless, to of will projected minor are growth the
in interest to keeping to High a supply case. and near will period certainly a in been than term. present economic inflation lead considerable rates rise to the a prices, the growth An high to otherwise interest risk medium According in against global rising tariffs for tariffs downside BIMCO, chain, fight bad could general. consumer which for the longer affect rates could in have shipping also would be increase in
this last few, China of into To influences slide expected presented the in leading in on by import the The this cite during congestion, continued to number of we the So monetary the positive Gulf to growth gradual have a year potential shipments record recession the looser countries summary increase policy provides year ore as analysts. China, be negative continued and and property short commencement from and dry Chinese the small bulk -- a in iron infrastructure in positive the of market later and next, in Southeast markets recovery Simandou and various Asia. Guinea. side, for
we side, On iron ore lower worldwide the have negative consumption.
the tariffs drought-related with and of for output protectionist demand transit, in bulk have resolution. China; growth, sector, the Cape We Red high disruptions measures large trade,, weather-related carrier Sea outpacing and to hydropower with the in East increased growth India iron Middle in fleet problem increases trade Australian easing ore finally, exports Canal except tensions Panama leading wars, in
provide and some this to financial On fourth this important pass note, highlights year from Semiramis points as the most takeaway quarter Paliou, our well will for to as I CEO, call. the the last call earnings
