Dry Bulk

Guinea’s bauxite loadings slumped to 1.3 Mt/wk last week, down -50% WoW and -38% YoY.

As disruption persists in the Black Sea, IFCHOR GALBRAITHS Research explores the potential implications for grain exports, freight markets and vessel demand.

Dry bulk transits through the Strait of Hormuz fell to just 38 vessels last week (-7% WoW, -70% YoY), reflecting renewed geopolitical tensions after the ceasefire collapsed.

The analysis is based on IFCHOR GALBRAITHS’ latest Focus On: El Niño & Implications, which examines how evolving weather patterns could influence coal, grains, bauxite, iron ore and key freight chokepoints over the coming year.

While Guinea’s Simandou project dominates headlines, Liberia is quietly emerging as West Africa’s other iron ore success story.

IFCHOR GALBRAITHS has launched Agri Markets 360, a new annual research report providing comprehensive analysis of global agricultural trade, export flows, logistics and shipping demand across the world’s major agricultural markets.

Russian coal loadings reached 5.6Mt/wk last week, up +41% MoM and +35% YoY to a fresh 5-year high.

Despite speculation that improving US-Iran relations could revive US grain exports, Iran’s central bank governor stated that existing agreements do not require purchases of US agricultural products.

If the announced framework for a 60-day US-Iran ceasefire is signed on Friday, it could pave the way for a gradual reopening of the Strait of Hormuz, allowing fertilizer cargoes stranded inside the Gulf to resume moving.

China’s bauxite inventories continue to rise despite firmer prices and concerns over Guinean supply.

Dry bulk shipping research is not just about data — it is about knowing what matters, what can be trusted, and what the market may be missing.

Guinea’s expected bauxite export curbs from Jun’26 are already weighing on shipments.

China’s coal burn at the six major coastal power groups hit a seasonal high of 0.8Mt/day last week, while Guangdong’s power load reached…

Dry bulk markets have become faster, noisier and more transparent. AIS, pricing and flow data have made parts of the market visible in near real time. Yet visibility is not foresight. Human judgement, context and intuition still determine who stays ahead of the curve.

Guinea iron ore exports stepped up sharply last week, doubling WoW from 0.6Mt to 1.2Mt/week.

Guinea’s Simandou iron ore exports are accelerating faster than expected, supported by improving infrastructure readiness and stronger iron ore economics. IFCHOR GALBRAITHS’ latest analysis explores the implications for export flows and dry bulk markets.

As the US President arrives in Beijing with a broader delegation of American CEOs — including Cargill’s CEO — China’s soybean balance looks anything but tight.

Brazil iron ore loadings dipped to 6.3Mt/Wk as of 3-May’26, down -13% YoY and -14% MoM, the lowest since Mar’26.

Coal loadings rose +7% YoY to a record 47.2Mt/wk last week, driven by China tightening gas allocation amid geopolitical risk and El Niño expectations, lifting coal demand and freight rates.

Over 1Mt of fertilisers — mainly sulphur, urea and phosphates — loaded since late Feb’26 and bound for export markets beyond the Strait of Hormuz remain effectively trapped.