Insight

2016 dry bulk shipping outlook

June 2016
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The dry bulk shipping industry’s financial performance declined markedly last year. Too many vessels chasing too few shiploads means pricing won’t rebound meaningfully in a while.

At a glance

  • A straightforward equation can explain the industrywide decline: weak pricing + costly operations + high debt loads = distress.
  • Because it makes about half the world’s steel, China’s economic slowdown is the most obvious culprit that’s causing reduced demand for the industry.
  • Companies have limited control over the demand side of the equation. But they can control their own operating performances.

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