Press release
Rising Demand For Coal Boosts Market Growth Due To Increasing Energy Production And Industrial Applications Across Emerging Economies: A Key Factor Shaping the Future of the Dry Bulk Shipping Market in 2025
Dry Bulk Shipping
The surge in coal demand is set to drive the expansion of the dry bulk shipping market in the future. Derived from ancient plant matter, coal is a flammable sedimentary rock mainly composed of carbon, serving as a key energy supplier for electricity production and industrial operations. The escalating coal demand stems from growing energy requirements, industrial expansion, and an ongoing dependence on coal-powered electricity plants within various regions. Dry bulk shipping facilitates coal transport, offering an economical, effective, and large-capacity method of transferring these weighty, high-volume goods along international commercial pathways. This ensures consistent industry and power plant supply, bolstering global infrastructure and economic development. For example, the Energy Information Administration (EIA), a US government agency, reported in February 2025 that US coal exports for Q3 2024 (27.3MMst) saw a 5.9% increase from Q2 2024. Plus, U.S. coal production in Q3 2024 reached 136.2 million short tons (MMst), marking a 15.3% rise from the previous quarter. Therefore, the rising demand for coal is propelling the dry bulk shipping market.
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What Is the projected market size and growth rate for the dry bulk shipping market?
The expansion of the dry bulk shipping market has been robust in recent years, with projections showing an increase from $11.36 billion in 2024 to $12.16 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.0%. The historical growth is due to factors such as enhanced demand for raw materials, an upswing in infrastructure development, expansion of the seaborne trade, ascension in steel output, and a rise in the deployment of LNG-powered vessels.
Anticipated robust expansion is expected in the dry bulk shipping market size in the upcoming years, with a predicted rise to $15.79 billion in 2029 at a Compound Annual Growth Rate (CAGR) of 6.8%. The escalation projected in this period can be linked to the surge in demand for energy resources, an increase in the appetite for clean energy, enhanced investments in port infrastructure, and a heightened emphasis on sustainable practices. Significant trends during these forecast years consist of progressive changes in shipping strategies, the incorporation of digitization in the shipping process, introduction of green technologies, automation advancements in shipping, and the implementation of digital tracking and data analytics.
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What new trends are reshaping the dry bulk shipping market and its opportunities?
Leading businesses in the dry bulk shipping market are concentrating on fostering innovations like the dry bulk composite index to increase transparency, enhance freight pricing efficiency, and fine-tune operational strategies using data-driven decision making. The Dry Bulk Composite Index serves as an indicator that monitors and analyses the general trends of freight rates in the dry bulk shipping sector, depicting the transportation costs of primary commodities such as grain, iron ore, and coal. For example, Platts, a division of UK-based commodity firm S&P Global Commodity Insights, introduced the platts dry index (PDI) in November 2023. This comprehensive benchmark for the dry bulk shipping market is denoted in dollars per day, marking the first such index to use this pricing format in over thirty years. It mirrors freight expenses across 35 primary routes used by capesize, panamax/kamsarmax, ultramax, and supramax vessels, amalgamating weighted average time charter equivalent indices from various vessel categories. The weights are derived from trade flow volumes tracked across three years by Platts' Commodities At Sea system.
What major market segments define the scope and growth of the dry bulk shipping market?
The dry bulk shipping market covered in this report is segmented -
1) By Type: Capesize, Panamax, Supramax, Handysize
2) By Design: Gearless Bulk Carriers, Conventional Bulkers, Combined Bulk Carriers, Self-Dischargers, Bulker Lakers
3) By Application: Iron Ore, Coal, Grains, Bauxite Or Alumina, Phosphate Rock
Subsegments:
1) By Capesize: Iron Ore Transport, Coal Transport, Bauxite And Alumina Transport, Grain Transport, Other Bulk Commodities
2) By Panamax: Coal Transport, Grain Transport, Fertilizers Transport, Minor Bulk Transport, Other Dry Bulk Cargo
3) By Supramax: Agricultural Products Transport, Cement and Clinker Transport, Fertilizers Transport, Steel Products Transport, Other General Bulk Cargo
4) By Handysize: Grain And Agricultural Commodities Transport, Steel And Scrap* Metal Transport, Fertilizers Transport, Forest Products Transport, Other Minor Bulk Cargo
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Which region dominates the dry bulk shipping market?
North America was the largest region in the dry bulk shipping market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dry bulk shipping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the dry bulk shipping industry growth?
Major companies operating in the dry bulk shipping market are COSCO Shipping Bulk Co. Ltd., Mitsui O.S.K. Lines (MOL), Oldendorff Carriers GmbH & Co. KG, Pan Ocean Co. Ltd., Pacific Basin Shipping Limited, Western Bulk Carriers AS, Star Bulk Carriers Corp., Golden Ocean Group Limited, Genco Shipping & Trading Limited, Safe Bulkers Inc., Diana Shipping Inc., Navios Maritime Partners L.P., Fednav Limited, Seanergy Maritime Holdings Corp., EuroDry Ltd., Globus Maritime Limited, Ultrabulk A/S, Berge Bulk, Polaris Shipping, Belships ASA
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What Is Covered In The Dry Bulk Shipping Global Market Report?
•Market Size Forecast: Examine the dry bulk shipping market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the dry bulk shipping market for a structured understanding.
•Key Players Overview: Analyze major players in the dry bulk shipping market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the dry bulk shipping market.
•Segment Contributions: Evaluate how different segments drive overall growth in the dry bulk shipping market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the dry bulk shipping market.
•Industry Challenges: Identify potential risks and obstacles affecting the dry bulk shipping market.
•Competitive Landscape: Review strategic developments in the dry bulk shipping market, including expansions, agreements, and new product launches.
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