Dry Bulk Shipping Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to dry bulk shipping market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Dry Bulk Shipping Market News

in Dry Bulk Shipping Market
  • In May 2024, Intermarine, an American maritime company, created "Intermarine Bulk Carriers" to venture into the dry bulk shipping business. This is an effort to diversify their operations by managing multi-purpose vessels and tonnage services. Venturing into dry bulk will help Intermarine capture the increasing demand for the project cargo segment and increase its market share.
  • In October 2024, Japan's Nippon Yusen Kabushiki Kaisha (NYK Line), in collaboration with IHI Power Systems and ClassNK, completed the world's first ammonia-fueled tugboat, "Sakigake." The landmark is one of NYK's larger plans for the development of ammonia-fueled ships, including a 2026 planned medium gas carrier. The activities reflect NYK's focus on lowering carbon emissions in shipping.
  • In April 2025, Germany's TAKRAF Group announced advancements in ship loader and unloader technologies, focusing on automation and energy efficiency. These new technologies seek to enhance port logistics by minimizing the time taken to load and also the energy consumption, thus promoting the overall efficiency of dry bulk cargo handling.
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Global Dry Bulk Shipping Market size was valued at USD 3.46 Billion in 2023 poised to grow from USD 3.60 Billion in 2024 to USD 4.89 Billion by 2032, growing at a CAGR of 3.9% in the forecast period (2025-2032).

The global dry bulk shipping market outlook is highly competitive, featuring key players like Oldendorff Carriers, Star Bulk Carriers, Nippon Yusen Kabushiki Kaisha (NYK Line), and Pacific Basin Shipping. These businesses concentrate on fleet growth, strategic partnerships, and digitalization. For example, Star Bulk highlights eco-efficient ships, while Pacific Basin consolidates intra-Asia shipping routes. NYK Line invests in AI-driven fleet management to increase operational efficiency and lower emissions, a sign of sustainability-driven competition. 'Oldendorff Carriers (Germany)', 'Star Bulk Carriers Corp. (Greece)', 'Diana Shipping Inc. (Greece)', 'Golden Ocean Group Ltd. (Bermuda)', 'Pacific Basin Shipping Limited (Hong Kong)', 'Eagle Bulk Shipping Inc. (USA)', 'Navios Maritime Partners L.P. (Monaco)', 'Genco Shipping & Trading Limited (USA)', 'Safe Bulkers Inc. (Monaco)', 'Scorpio Bulkers Inc. (Monaco)', 'Bahri Dry Bulk (Bahri DB) (Saudi Arabia)', 'COSCO Shipping Bulk Co., Ltd. (China)', 'Nippon Yusen Kabushiki Kaisha (NYK Line) (Japan)', 'Kawasaki Kisen Kaisha, Ltd. (K Line) (Japan)', 'Hyundai Glovis Co., Ltd. (South Korea)'

The rapid expansion of global infrastructure projects, especially in emerging economies, is significantly driving demand for dry bulk shipping. Construction materials like cement, iron ore, and steel are bulk carried in huge quantities. This growth in infrastructure investment fuels increased shipping activity and ship utilization directly.

Surge in Eco-Friendly Vessel Adoption: A major trend in the global dry bulk shipping market is the increasing shift toward eco-friendly vessels. Spurred by tight emissions standards and sustainability targets, shipowners are investing in energy-efficient, ammonia-powered, and LNG-fueled vessels to lower carbon emissions and stay ahead in a decarbonizing global economy.

Which Major Economies Drive the Dry Bulk Shipping Market in Asia Pacific?

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Global Dry Bulk Shipping Market
Dry Bulk Shipping Market

Report ID: SQMIG20T2021

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