Dry Bulk

Following the US–China Presidential meeting on 30-Oct, the White House announced that …

Brazil’s iron ore loadings rebounded strongly since mid-Sep’25…

Iron ore is expected to regain its lead in global seaborne trade from 2026, following a short-lived surge in bauxite exports.

India’s iron ore imports are shifting gear in 2025.

China’s exports rose +8.3% YoY in Sep’25, the fastest pace in six months.

US soybean exports have entered uncharted waters — with no new sales to China recorded so far and little progress expected before 31 October 2025, when the U.S. and Chinese presidents are set to meet in South Korea.

In Aug’25, India produced 14.1 Mt of crude steel, up +15 % YoY, maintaining its position as the world’s #2 producer behind China.

Indonesia’s coal loadings rebounded +17% WoW to a record 14.4Mt/wk, despite only a marginal easing in congestion for Panamax & Supramax vessels.

Global iron ore shipments reached 39.3Mt/wk last week, the second strongest week in 2025.

The global bulk carrier fleet is set for a wave of ~700 new vessel deliveries in 2026 – the strongest year since the 2010–2013 peak.

Guinea’s bauxite loadings have been in catch-up mode since mid-Jul’25, when heavy rainfall, flooding, mining disruptions and port congestion weighed on volumes.

For the first time in 2025, Indonesian weekly coal exports rose YoY for two consecutive weeks, driven by Chinese utilities restocking after July–early Aug heatwaves forced urgent buying.

Through Aug’25, Brazilian iron ore exports climbed from 7.2Mt/wk to a record 10.6Mt/wk last week — the strongest since the 2019 Brumadinho disaster.

When 4×0 is still 0? This week, the US and China extended their trade truce by 90 days (until 10-Nov), keeping US tariffs on Chinese goods at 30%, and China’s at 10%.

Kicking off the new fiscal year, Australia’s weekly iron ore loadings rose for a fourth straight week to 18.3Mt, marking a 5-year seasonal high.

Soybean inventories at Chinese ports remained below 7Mt at the end of Jul’25, slightly under their 5-year seasonal lows – despite a sharp recovery since May.

Global crude steel output fell sharply in Jun’25, with production across the 70 reporting countries down -5.8% YoY to 151 Mt. Year-to-date, output slipped -1.3% YoY to 928 Mt.

In Jun’25, China’s steel sector showed a striking divergence.

In 1H’25, Capesize coal loadings remained notably weak, falling -27% YoY to just 143Mt, driven by both supply- and demand-side pressures.

Global bauxite loadings surged +23% YoY to 146 Mt in 1H’25, marking a record-high start to the year.